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Other, Social Studies
11th -
University
National Income & Related Aggregates
15 questions
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- 1. Multiple Choice
National income does not include_____
Wages and salaries
Rent and Royalty
Student scholarship
Corporate Tax
- 2. Multiple Choice
The difference between value of output and value added is:
Depreciation
Net Indirect tax
Intermediate consumption
Net factor income from abroad
- 3. Multiple Choice
Product method of calculating national income is also known as:
Income method
Value added method
Expenditure method
Distribution method
- 4. Multiple Choice
Transfer payments refer to payments, which are made:
Without any exchange of goods and services
To workers on transfer from one job to another
As compensation to employees
None
- 5. Multiple Choice
National Income differs from Net National Product at market price by the amount of:
Current transfers from rest of the world
Net Indirect Taxes
National debt interest
it does not differ
- 6. Multiple Choice
GNP(MP) = GDP(MP) + ________ :
Depreciation
Indirect taxes
NFIA
Subsidy
- 7. Multiple Choice
Which of the following is not correct ?
NNPMP = GNPMP- depreciation
NNPMP = NNPFC + net indirect taxes
GDPMP = GNPMP +.NFIA
NDPFC = GDPFC – depreciation
- 8. Multiple Choice
Net national product at factor cost is also known as:
Net Domestic product
Gross National product
National Income
Personal Income
- 9. Multiple Choice
In GNP calculation which of the following should be excluded?
Rental incomes
Interest payments
Dividends
Government transfer payment
- 10. Multiple Choice
In GNP calculation which of the following should be excluded?
Rental incomes
Interest payments
Dividends
Government transfer payment
- 11. Multiple Choice
Domestic income and national income becomes equal when
NFIA is +ve
NFIA is -ve
Factor income received from abroad equals to factor income paid ta abroad
Net indirect tax is zero
- 12. Multiple Choice
NNP at market price equals to NNP at factor cost, if
Net indirect tax is +ve
Net indirect tax is -ve
Indirect tax=Subsidy
None
- 13. Multiple Choice
To avoid Problem of double counting, which method is most suitable?
Income method
Expenditure method
Value added method
Final goods method
- 14. Multiple Choice
----------- causes leakage in circular flow of income.
Taxes
Savings
Exports
All above
- 15. Multiple Choice
In a circular flow of income, we have:
Production
Distribution
Disposition
All above
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