Question : Which of the following aggregates best describes the National Income?

Option 1: GDP at MP

Option 2: NNP at FC

Option 3: NDP at MP

Option 4: GNP at FC

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

Option 4: GNP at factor cost - NNP at factor cost - Personal income - Personal disposable income

Question : GNP at MP less ___________ gives us GDP at MP.

Option 1: depreciation

Option 2: indirect taxes

Option 3: Net Factor Income from Abroad

Option 4: subsidies

Question : Which of these expressions is correct?

Option 1: If the factor income from abroad is greater than the factor income paid abroad, then the Gross National Product (GNP) would be greater than the Gross Domestic Product (GDP).

Option 2: If the factor income from abroad is greater than the factor income paid abroad, then the GNP would be lower than the GDP.

Option 3: If the factor income earned from abroad is less than the factor income paid abroad, then the GNP would be greater than the GDP.

Option 4: If the net factor income from abroad is negative, then the GNP would be greater than the GDP.

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