ECONOMY MCQS SET 70

ECONOMY MCQS SET 70

691) India's wage policy is based on
A) cost of living
B) standard of living
C) productivity
D) none of these
Answer:  cost of living
  
692) National income is based on
A) total revenue of the State
B) production of goods and services
C) net profit earned and expenditure made by the State
D) sum of all factor incomes
Answer:  sum of all factor incomes
   
693) If saving exceeds investment, the national income will
A) fall
B) rise
C) fluctuate
D) remain constant
Answer:  remain constant
   
694) National income of India is estimated mainly through
A) production method alone
B) expenditure method alone
C) production and expenditure methods
D) production and income methods
Answer:  production and income methods
   
695) Best measure of the economic growth of a country is
A) GNP
B) GDP
C) net revenue
D) none of these
Answer:  GNP

696) In our country, which of the following affects poverty line the most?
A) Levels of prices
B) Production quantum
C) Per capita income
D) Quantum of gold reserve
Answer:  Per capita income
   
697) Rate of growth of an economy is measured in terms of
A) per capita income
B) industrial development
C) number of people who have been lifted above the poverty
D) national income
Answer:  national income
   
698) Largest revenue in India is obtained from
A) Sales tax
B) Direct taxes
C) Excise duties
D) None of these
Answer:  Excise duties
   
699) Government imposes taxes to
A) uplift weaker sections
B) check accumulation of wealth among the rich
C) run machinery of the state
D) none of these
Answer:  run machinery of the state
   
700) The principal source of revenue to the State Government in India is
A) Income tax
B) Sales tax
C) State excise duties
D) Land revenue
Answer:  Sales tax