Question : What is the full form of NNP?

Option 1: Normal Net Production

Option 2: Net National Product

Option 3: Normal National Produce

Option 4: Net Normal Produce

Question : Any factor of production can earn economic rent when the supply is:

Option 1: perfectly elastic

Option 2: perfectly inelastic

Option 3: elastic in nature

Option 4: all of the above

Question : A policy which involves fixing the maximum size of land which could be owned by an individual is called ______.

Option 1: land ceiling

Option 2: land capping

Option 3: land mapping

Option 4: land jamming

Question : The price of land passing through three hands rises on the whole by 65%. The first and second sellers earned 20% and 25% profit, respectively. Find the profit percentage earned by the third seller.

Option 1: 10%

Option 2: 20%

Option 3: 25%

Option 4: 15%

Question : Which of the following identities is correct regarding Gross National Product (GNP)?

Option 1: GNP = GDP (Gross Domestic Product) + Factor income earned by the domestic factors of production employed in the rest of the world + Factor income earned by the factors of production of the rest of the world employed in the domestic economy.

Option 2: GNP = GDP – Factor income earned by the domestic factors of production employed in the rest of the world – Factor income earned by the factors of production of the rest of the world employed in the domestic economy.

Option 3: GNP = GDP + Factor income earned by the domestic factors of production employed in the rest of the world – Factor income earned by the factors of production of the rest of the world employed in the domestic economy.

Option 4: GNP = GDP – Factor income earned by the domestic factors of production employed in the rest of the world + Factor income earned by the factors of production of the rest of the world employed in the domestic economy.