The 'intermediate consumption' in national accounting refers to: MCQ with Answer and Explanation

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The 'intermediate consumption' in national accounting refers to:

A. export goods

B. capital goods

C. final goods bought by households

D. goods and services used up in production

Answer: Option D

Solution (By JKSSB Mock Tests)

Intermediate consumption is the value of goods and services used as inputs in production.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is a feature of the 'Financial Development' and growth literature?

A. Financial development always retards growth

B. Better-functioning financial systems can promote growth by improving the allocation of capital and reducing financing constraints

C. Only the size of the banking system matters and quality is irrelevant

D. Finance is completely neutral for real activity

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Correct Answer: Option B

Explanation:
A large body of research finds that financial development—deeper, more efficient and more inclusive financial systems—tends to raise long-run growth by relaxing credit constraints and improving resource allocation.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'National Housing Bank' is a subsidiary of:

A. NABARD

B. SIDBI

C. Reserve Bank of India

D. SEBI

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Correct Answer: Option C

Explanation:
The National Housing Bank is a wholly owned subsidiary of the RBI.

This question belongs to: Economy GK Economy Set 1

Question #3

In India, the estimate of National Income is usually expressed as:

A. GNP at market prices

B. GDP at market prices

C. GDP at factor cost

D. NNP at factor cost

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Correct Answer: Option D

Explanation:
National Income is conventionally defined as Net National Product at factor cost.

This question belongs to: Economy GK Economy Set 1

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