Question : Which of the following should be included in national income or domestic income?

Option 1: Income earned by foreign residents within the domestic territory

Option 2: Income earned by domestic residents outside the domestic territory

Option 3: Income earned by foreign residents outside the domestic territory

Option 4: Income earned by domestic residents within the domestic territory

Question : The sum total of all the factor income and within the domestic territory of a country is known as ___________________.

Option 1: National income

Option 2: Current income

Option 3: Domestic income.

Option 4: None of the above.

Question : Which of the following represents the income earned by foreign factors of production located within a country?

Option 1: Gross National Product (GNP)

Option 2: Net Domestic Product (NDP)

Option 3: Net National Product (NNP)

Option 4: Personal income

Question : Which of the following is NOT considered a normal resident when calculating national income?

Option 1: A foreign diplomat residing in the country

Option 2: An international student studying in the country

Option 3: A citizen living abroad temporarily for work

Option 4: A foreign worker permanently settled in the country

Question : Transfer income is a part of __________________.

Option 1: National income

Option 2: Domestic income

Option 3: Both national and domestic income.

Option 4: Neither national nor domestic income