Question : National income is generated from:
Option 1: any money-making activity
Option 2: any laborious activity
Option 3: any profit-making activity
Option 4: any productive activity
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Correct Answer: any laborious activity
Solution : The correct answer is any laborious activity.
It is income generated by anyone in the country. The person who earns money is the labour, they contribute their income, which is termed national income. The sources of national income include wages and salary, government transfer, dividends, capital gains, rent, self-employment, etc.
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Question : The remuneration of the entrepreneur in production is
Option 1: pure profit
Option 2: gross profit
Option 3: net profit
Option 4: super-normal profit
Question : National income received by the households is called_____.
Option 1: domestic income
Option 2: professional income
Option 3: personal income
Option 4: disposable income
Question : If we deduct depreciation from GNP the measure of aggregate income that we obtain is called _____.
Option 1: Gross domestic product
Option 2: National income
Option 3: Private income
Option 4: Net national product
Question : Directions: Arrange the following words as per order in the dictionary. 1. Billian 2. Bifurcate 3. Bilateral 4. Bilirubin
Option 1: 2, 1, 3, 4
Option 2: 4, 3, 2, 1
Option 3: 2, 3, 4, 1
Option 4: 2, 3, 1, 4
Question : Which of the following incomes will not be included in the National Income Calculation?
Option 1: Commission income of a share broker
Option 2: Individual's income from share broker sale of shares
Option 3: Income of a joker in a circus company
Option 4: Income of a commercial artist
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