Question : Which of the following is not a limitation of GDP as a measure of economic welfare?

Option 1: It does not take into account income distribution

Option 2: It does not account for non-monetary transactions

Option 3: It does not account for environmental factors

Option 4: It does not account for changes in the stock market

Question : Which of the following is a measure of national income that takes into account the value of goods and services produced by a country's residents both domestically and abroad?

Option 1: Gross Domestic Product (GDP)

Option 2: Gross National Product (GNP)

Option 3: Net Domestic Product (NDP)

Option 4: Net National Product (NNP)

Question : Which of the following is a measure of national income that takes into account the value of goods and services produced by a country's residents both domestically and abroad?

Option 1: Gross Domestic Product (GDP)

Option 2: Gross National Product (GNP)

Option 3: Net Domestic Product (NDP)

Option 4: Net National Product (NNP)

Question : Which of the following is NOT a characteristic of national income?

Option 1: It measures the economic performance of a country.

Option 2: It includes the value of all goods and services produced.

Option 3: It measures the distribution of wealth in a society.

Option 4: It is a flow concept measured over a specific time period.

Question : ______________________ refers to the gross market value of all final goods and services produced within the geographical territory of a country during a period of one year.

Option 1: GDP at MP

Option 2: GDP at FC

Option 3: GNP at MP

Option 4: GNP at FC