SSC CGL Economy – National Income – Level 1 · Warm-up · Tier I Level
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Second-hand goods were counted when produced; only the dealer's commission counts.
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SSC CGL Economy – National Income – Level 1 · Warm-up · Tier I Level – 12 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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1.
National income in the NCERT framework is:
Correct Answer: C [NNP at factor cost]
Explanation:
NI = NNPfc = GDPmp − depreciation + NFIA − NIT.
2.
GNP at market price − GDP at market price is equal to:
Correct Answer: D [Net factor income from abroad]
Explanation:
GNP = GDP + NFIA (the 'national' switch).
3.
NDP is obtained from GDP by subtracting:
Correct Answer: A [depreciation]
Explanation:
Gross → Net: subtract consumption of fixed capital (depreciation).
4.
Market price − net indirect taxes = ?
Correct Answer: B [Factor cost]
Explanation:
MP − NIT = FC, where NIT = indirect taxes − subsidies.
5.
Which one of the following is a transfer payment?
Correct Answer: A [Old-age pension]
Explanation:
A pension is paid without any current productive service → transfer; excluded from NI.
6.
The value-added method of measuring GDP avoids:
Correct Answer: B [double counting]
Explanation:
Only value added (output − intermediate consumption) is counted, so intermediate goods are not counted twice.
7.
Fill in the blankReal GDP values the output of the current year at ______ prices.
Correct Answer: C [base-year]
Explanation:
Real GDP = current quantities × base-year prices.
8.
GDPmp = ₹ 800 crore and depreciation = ₹ 60 crore. NDPmp is:
Correct Answer: D [₹ 740]
Explanation:
NDP = GDP − depreciation = 800 − 60 = 740.
9.
One-line recallIn India, national-accounts estimates (GDP, GVA) are compiled by the:
Correct Answer: C [National Statistics Office (NSO), MoSPI]
Explanation:
NSO under the Ministry of Statistics and Programme Implementation compiles national accounts.
10.
Which of these is a leakage from the circular flow of income?
Correct Answer: A [Imports]
Explanation:
Leakages: saving, taxes, imports; injections: investment, government spending, exports.
11.
Nominal GDP = ₹ 1,500 crore and the GDP deflator = 125. Real GDP is:
Correct Answer: D [₹ 1,200]
Explanation:
Real = 1,500 × 100 ÷ 125 = 1,200.
12.
Statement-basedWhich is/are correct?
I. Imputed rent of an owner-occupied house is included in national income.
II. The sale of a second-hand car is fully included in national income of the year of sale.
I. Imputed rent of an owner-occupied house is included in national income.
II. The sale of a second-hand car is fully included in national income of the year of sale.
Correct Answer: B [Only I]
Explanation:
Second-hand goods were counted when produced; only the dealer's commission counts.
➤ Full notes, shortcuts and every answer explained – SSC CGL 2026 Indian Economy book (₹149): www.shanmugamiasacademy.in/study-materials/ssc-cgl-indian-economy
📘 SSC CGL 2026 – Indian Economy (Tier I + Tier II)
Here you get the answer with a one-line explanation. 773 original questions with answer key and explanations · mind-maps, notes, tables and shortcuts · Tier I and Tier II practice sets + 3 mock tests
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