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Economics important MCQs - CSEET

1) gains such as prizes won, lotteries etc. is not be included in the estimation of  national income. 

a) Illegal Money

b) Windfall

c) Transfer

d) Sale of Asset

2) GDP by expenditure method at market prices = C+ I + G + (X – M), where (X-M) is net export which can be positive or negative. What “I” represent in this equation

a) Interest

b) Income

c) Investment

d) Imports

3) The price index which is calculated by dividing the nominal GDP in a given year by the real GDP for the same year and multiplying it by 100.

a) GDP Inflator

b) GDP deflator

c) GDP accelerator

d) GDP decelerator

4) GDP at Factor Cost = GDP at Market Price – ? + Subsidies.

a) Direct Taxes

b) Customs Duty

c) Indirect Taxes

d) Excise Duty

5) In GDP at market price are included and by the government are


a) Indirect Taxes & Subsidies

b) Subsidies & Indirect Taxes

c) Customs Duty & Indirect Taxes

d) Customs Duty & Subsidies

6) is the measure of money, in which all kinds of goods and services produced in a country during one year are measured in terms of money at current prices and then added together. 

a) GDP

b) NNP

c) GNP

d) NNI

7) Taxes levied on individuals, corporations and other businesses are included in the

a) GDP

b) NNP

c) GNP

d) NNI

8) GNP at Factor Cost = – Indirect Taxes + Subsidies.

a) GNP at Cost Price

b) GNP at Market Price

c) GNP at Inflated Price

d) GDP at Market Price

9) Personal Income = Private Income – Undistributed Corporate Profits – Profit Taxes

a) True

b) False

10) is the form in which estimates of expenditure from the Consolidated Fund, included in the annual financial statement and required to be voted upon in the Lok Sabha, are submitted in pursuance of Article 113 of the Constitution. 

a) Finance Bill

b) Appropriation Bill

c) Demand for Grants

d) Annual Financial Statement

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