Which of the following is NOT correct with regards to the history of calculating National Income (NI) in India?
Dadabhai Naoroji divided the Indian economy into two parts: primary sector and secondary sector.
Dadabhai Naoroji was the first to estimate National Income for India in his book Poverty and Un-British Rule in India in the 19th century.
Dadabhai Naoroji did not divide the economy into primary and secondary sectors. This classification was a later development in economic studies, introduced by more systematic national income accounting methods.
Similar Questions
Which of the following areas make the largest contribution to national income in India?
Which of the following is/are included while calculating the national income using the income method?
(1) Wages and salaries in cash
(2) Employers’ contribution to social security
Which of the following is NOT a correct statement in the context of National income?
A monopolist maximises profit at the level where:
Selling cost has to be incurred in case of:
What was the actual growth rate of the first five-year plan?
Which one of the following is not a method of estimating National Income?
National Income is the
Match the following:
Characteristics/Other Name | Name of River
A. Area of Badland topography | 1. Godavari
B. Vridh Ganga | 2. Brahmaputra
C. Tsangpo | 3. Kosi
D. Sorrow of Bihar | 4. Chambal
Which of the following options represents the total income earned by individuals from all sources before deduction of personal income taxes?
Important Questions from National Income Accounting
- A Giffen good exhibits an upward-sloping demand curve, a unique characteristic where the Law of Demand is violated. This phenomenon primarily arises when the negative income effect of a price change is so substantial that it outweighs the substitution effect. Based on this, which statement correctly describes the nature of the overall price effect and the income effect for a Giffen good?
In the context of Indian economy, consider the following statements:
1) The growth rate of GDP has steadily increased in the last five years.
2) The growth rate in per capita income has steadily increased in the last five years.
Which of the statements given above is/are correct?
The national income of a country for a given period is equal to the
Which of the following Institutions estimate the national income of India?
During a recession when GDP falls, disposable income _______.
