National Income & the Role of RBI

JKSSB Panchayat Account Assistant · General Economics · 15 practice questions with answers and explanations: 3 Easy, 7 Medium, 5 Hard.

Sample questions

Sample Easy question 1

In India, one-rupee notes are issued by:

  1. State Bank of India (SBI)
  2. The Reserve Bank of India (RBI)
  3. The Ministry of Finance, Government of India
  4. NABARD (National Bank for Agriculture and Rural Development)
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Answer: C. The ₹1 note (and coins) are issued by the Government of India; all other notes are issued by the RBI.

Sample Medium question 2

In Indian national accounts, 'National Income' refers to:

  1. GDP at market price
  2. GNP at market price
  3. NNP at factor cost
  4. NDP at market price
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Answer: C. National income is Net National Product at factor cost (NNP at FC).

Sample Hard question 3

What is one method used to measure a country's National Income?

  1. The expenditure method, summing all spending on final goods and services
  2. Counting the total population of the country by household
  3. Measuring only the exports that the country sells abroad
  4. Measuring only the salaries paid to the government employees
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Answer: A. The expenditure method totals all spending on final goods and services to estimate national income.

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