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
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Correct Answer: NNP at FC
Solution : The correct option is NNP at FC.
NNP at FC (Net National Product at Factor Cost) is one of the key measures used to describe the national income of a country. It represents the total value of goods and services produced within a country's borders after accounting for depreciation or capital consumption.
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Question : NDP at FC plus net factor income from abroad is equal to
Option 1: NNP at MP
Option 3: GDP at FC
Option 4: GNP at MP
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
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
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
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
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