Question : National Income is also called as :
Option 1: GNP at Factor Cost
Option 2: GNP at Market Price
Option 3: NNP at Factor Cost
Option 4: NNP at Market Price
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Correct Answer: NNP at Factor Cost
Solution : Correct Answer is NNP at factor costs
NNP at factor costs is another name for national product. It is the total of all incomes earned by citizens of a nation over a specific time period, taking into account capital consumption and depreciation. The national income includes both the GDP and the GNP. A country's economic activity can be determined by looking at its national income.
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Question : Which of the following is the correct sequence of national income from broader to narrower concepts?
Option 1: GNP at market prices - NNP at market prices - GNP at factor cost - NNP at factor cost
Option 2: Personal disposable income - Personal income - GNP at market prices - GNP at factor cost
Option 3: GNP at factor cost - GNP at market prices - NNP at market prices - Personal income
Option 4: GNP at factor cost - NNP at factor cost - Personal income - Personal disposable income
Question : Which of the following is the incorrect sequence of national income from broader to narrower concepts?
Option 1: GNP at market prices - NNP at factor cost - NNP at market prices - GNP at factor cost
Option 2: GNP at market prices - NNP at market prices - NNP at factor cost - Personal income
Option 3: NNP at factor cost - Personal income - Personal disposable income
Question : NDP at FC plus net factor income from abroad is equal to
Option 1: NNP at MP
Option 2: NNP at FC
Option 3: GDP at FC
Option 4: GNP at MP
Question : Which of the following aggregates best describes the National Income?
Option 1: GDP at MP
Option 3: NDP at MP
Option 4: GNP at FC
Question : Net domestic product is calculated as_______.
Option 1: Gross Domestic Product (GDP) - Depreciation
Option 2: Gross National Product (GNP) - Depreciation
Option 3: Gross Domestic Product (GDP) - Net income earned from abroad
Option 4: Gross National Product (GNP) - Net income earned from abroad
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