Question : ___________________ is the money value of final goods and services produced by the nominal resident of a country in a year, measured at this year‘s price.

Option 1: National income at current price
 

Option 2: National income at constant price
 

Option 3: Nominal national income
 

Option 4: All of the above
 

Question : ______________- shows the change in price levels between two different time periods.
 

Option 1: Price index
 

Option 2: National income at constant prices
 

Option 3: National income at current prices
 

Option 4: None of the above.
 

Question : _____________ is used for comparing the national income of different years.
 

Option 1: National income at current prices
 

Option 2: National income at constant prices
 

Option 3: Nominal national income
 

Option 4: None of the above
 

Question : ______________ refers to production of goods and services valued at current price.
 

Option 1: Nominal GDP
 

Option 2: Real GDP
 

Option 3: GDP deflator
 

Option 4: Real national income
 

Question : Which of the following statements are true?

1.  National income at constant prices also known as real national income. 
2. National income rise is also known as nominal national income.
3. National income at current price is affected by change in both price and quantity.
4. National income at constant price is effected by change in price only.

Option 1: 1,2&3
 

Option 2: 2,3&4
 

Option 3: 1,3&4
 

Option 4: 1,2,3&4