SSC CGL Economy – National Income – Level 3 · Challenge
SSC CGL Economy – National Income – Level 3 · Challenge – 8 questions, subject: Indian Economy. Every question has the correct answer with a one-line explanation; tap "Show Answer". Free practice for TNPSC, UPSC, SSC, Bank and RRB exams – Shanmugam IAS Academy, Coimbatore.
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Directions (next 3 questions): Data of an economy (₹ crore) – private final consumption 1,500; government final consumption 400; gross fixed capital formation 500; change in stocks 50; exports 300; imports 350; depreciation 120; net indirect taxes 180; NFIA −30; scholarships paid by government 40.
Correct Answer: B [₹ 2,400]
Explanation:
C + G + (GFCF + Δstocks) + (X − M) = 1,500 + 400 + 550 − 50 = 2,400; scholarships are transfers – ignore.
Correct Answer: A [₹ 2,070]
Explanation:
2,400 − 120 − 180 − 30 = 2,070.
Correct Answer: D [₹ 2,190]
Explanation:
GDPmp + NFIA − NIT = 2,400 − 30 − 180 = 2,190 (no depreciation for 'gross').
Directions (next 2 questions): An imaginary economy produces two goods (base year 2022).
| Year | Rice (units) | Price of rice (₹) | Cloth (units) | Price of cloth (₹) |
|---|---|---|---|---|
| 2022 | 100 | 5 | 50 | 10 |
| 2024 | 120 | 6 | 50 | 12 |
Correct Answer: A [₹ 1,100]
Explanation:
120 × 5 + 50 × 10 = 600 + 500 = 1,100.
Correct Answer: B [120]
Explanation:
Nominal 2024 = 720 + 600 = 1,320; 1,320 ÷ 1,100 × 100 = 120.
I. GDP at factor cost can be larger than GDP at market price.
II. NNP at factor cost can be larger than GDP at market price.
Which is/are correct?
Correct Answer: C [Both I and II]
Explanation:
I: if subsidies exceed indirect taxes, NIT < 0 and FC > MP.
I. CSO set up II. National Income Committee under Mahalanobis III. NSO formed by merging CSO and NSSO IV. Naoroji's Poverty and Un-British Rule in India published
