Question : The income of Indians working abroad is a part of the: 

Option 1: domestic income of India

Option 2: income earned from abroad

Option 3: net domestic product of India

Option 4: gross domestic product of India

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 : Which of the following is correct regarding Private Income?

Option 1: Private Income = Factor income from net domestic product accruing to the private sector + National debt interest – Net factor income from abroad + Current transfers from government + Other net transfers from the rest of the world

Option 2: Private Income = Factor income from net domestic product accruing to the private sector + National debt interest + Net factor income from abroad – Current transfers from government + Other net transfers from the rest of the world

Option 3: Private Income = Factor income from net domestic product accruing to the private sector + National debt interest + Net factor income from abroad + Current transfers from government + Other net transfers from the rest of the world

Option 4: Private Income = Factor income from net domestic product accruing to the private sector - National debt interest + Net factor income from abroad + Current transfers from government + Other net transfers from the rest of the world

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

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