Which of the following is NOT a method of measuring national income? MCQ with Answer and Explanation

Question
Which of the following is NOT a method of measuring national income?
A. Product method
B. Income method
C. Expenditure method
D. Balance of payments method
Answer: Option D
Solution (By JKSSB Mock Tests)
National income is measured by product (value added), income and expenditure methods. Balance of payments is used for recording international transactions, not for measuring national income.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
The 'One District One Product' initiative aims to promote:
A. district-specific products and exports
B. uniform industrial policy
C. single tax rate
D. uniform education
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Correct Answer: Option A

Explanation:
One District One Product promotes production of unique products in each district for economic development and exports.
This question belongs to: Economy GK Economy Set 1
Question #2
In the context of demand theory, the law of demand may not hold for:
A. Normal goods
B. All inferior goods without exception
C. Necessary goods with elastic demand
D. Giffen goods and Veblen goods
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Correct Answer: Option D

Explanation:
Giffen goods (strong negative income effect) and Veblen goods (prestige value rising with price) are exceptions to the law of demand.
This question belongs to: Economy GK Economy Set 1
Question #3
If the reserve ratio is 10%, the simple deposit/money multiplier is:
A. 5
B. 20
C. 100
D. 10
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Correct Answer: Option D

Explanation:
Money multiplier = 1/reserve ratio = 1/0.10 = 10.
This question belongs to: Economy GK Economy Set 1
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