31. The relationship between which of the following is correct?

  • (A) NDP at market price = GDP at market price + depreciation
  • (B) Domestic income = NDP at market price + net indirect taxes
  • (C) GDP at market price = price + quantity of final goods and services
  • (D) National income = NDP at factor cost + net factor income from abroad

32. Which of the following options is INCORRECT?

  • (A) Distinguished economists from India and abroad were invited to advise on India’s economic development during the first five-
  • (B) India borrowed the idea of five-year plans from the former Soviet Union.
  • (C) The Planning Commission of India was set up in 1950.
  • (D) The chairmanship of the Planning Commission of India was given to the Prime Minister.

33. National income at constant prices means:

  • (A) income estimated for next year prices
  • (B) income estimated at base year prices
  • (C) income estimated at current year prices
  • (D) income estimated at any year prices

34. _____ is defined as excess of total expenditure over total receipts excluding borrowings during a fiscal year.

  • (A) Fiscal deficit
  • (B) Income deficit
  • (C) Structural deficit
  • (D) Gross Primary deficit

35. What is the primary aim of Regional Rural Banks in India?

  • (A) Development of rural economy
  • (B) Development of urban economy
  • (C) Development of semi-urban economy
  • (D) Development of metropolitan economy

36. Which of the following currency note was discarded by the Government of India in November 2016?

  • (A) ₹100
  • (B) ₹200
  • (C) ₹500
  • (D) ₹2,000

37. Which of the following sequences is correct, according to taxonomy?

  • (A) Class-Phylum-Family-Order Genus-Species
  • (B) Family-Phylum-Class-Order-Genus-Species
  • (C) Phylum-Class-Order-Family-Genus-Species
  • (D) Class-Phylum-Order-Family-Genus-Species

38. _____ at Market Price refers to the sum total of factor incomes earned by residents of a country during an accounting year including net indirect taxes.

  • (A) Net Domestic Product (NDP)
  • (B) Gross Domestic Product (GDP)
  • (C) Gross National Product (GNP)
  • (D) Net National Product (NNP)

39. Which of the following was a feature of the Indian economy before the British rule?

  • (A) Prosperous economy
  • (B) Self-reliant economy
  • (C) Dependent economy
  • (D) Independent economy

40. Which of the following is the correct formula for calculating NNP?

  • (A) NNP = GNP – DEPRECIATION
  • (B) NNP = GNP + DEPRECIATION
  • (C) NNP = GDP – INCOME
  • (D) NNP = GDP – DEPRECIATION

Total Quizz:- 604

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