11. Which one of the following is NOT a method of measurement of National Income?

1. 1. Value Added Method

   
   
   

   2. Income Method

   
   
   

   3. Expenditure

   
   
   

   4. Investment Method

   
   
   

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   N/A

   Correct Option: D

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12. In terms of economics, the total value of the output (goods and services) produced and income received in a year by a domestic residents of a country put together is called

1. 1. Net National product

   
   
   

   2. Gross National Product

   
   
   

   3. Gross National Income

   
   
   

   4. National Income

   
   
   

   5. None of these

   
   
   

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   N/A

   Correct Option: B

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13. Assertion (A) : Per Capita Income of India dos not give a complete picture of the economic growth of the county.
    Reason (R) : Per Capita Income of a country is not Independent of the size of its population
    Codes:

1. 1. Both A and R are true and R is the correct explanation of A

   
   
   

   2. Both A and R are true but R is not a correct explanation of A

   
   
   

   3. A is true But R is false

   
   
   

   4. A is false but R is true

   
   
   

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   N/A

   Correct Option: B

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14. With reference to Indian economy, consider the following statements
    1. The Gross Domestic Product (GDP) has increased by four times in the last 10 years
    2. The percentage share of Public sector in GDP has declined in the last 10 years
    Which of the statements given above is/are correct?

1. 1. 1 only

   
   
   

   2. 2 only

   
   
   

   3. Both 1 and 2

   
   
   

   4. Neither 1 nor 2

   
   
   

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1. View Hint View Answer Discuss in Forum

   N/A

   Correct Option: D

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15. Which of the following is the correct definition of the term National Income?

1. 1. National Income Means the total amount of money Government earns only through direct tax collections every year

   
   
   

   2. It is the total value of all sorts of stocks held by a country at a particular point of time

   
   
   

   3. This is the measure of the volume of commodities and services turned out during a given period counted without duplication.

   
   
   

   4. All 'a', 'b' and 'c'

   
   
   

   5. None of the above

   
   
   

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1. View Hint View Answer Discuss in Forum

   N/A

   Correct Option: C

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