The 'Net National Product at factor cost' is also known as: MCQ with Answer and Explanation

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The 'Net National Product at factor cost' is also known as:

A. National Income

B. Gross Domestic Product

C. Disposable Income

D. Personal Income

Answer: Option A

Solution (By JKSSB Mock Tests)

National Income is NNP at factor cost.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'National Economic Census' is conducted by:

A. Ministry of Statistics and Programme Implementation

B. NITI Aayog

C. SEBI

D. RBI

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Correct Answer: Option A

Explanation:
Economic Census is conducted by MoSPI.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a major objective of the World Trade Organisation?

A. Promoting free and fair trade among nations

B. Maintaining exchange rate stability

C. Providing short-term BOP support

D. Providing development loans

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Correct Answer: Option A

Explanation:
The WTO aims to promote free and fair international trade by reducing trade barriers, settling disputes and providing a framework for trade negotiations.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on salt is:

A. 0%

B. 18%

C. 12%

D. 5%

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Correct Answer: Option A

Explanation:
Common salt is exempt from GST.

This question belongs to: Economy GK Economy Set 1

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