Question : Personal disposable income (PDI) can be defined as ______.

Option 1: Personal Income (PI) + Personal tax payments + Non-tax payments

Option 2: Personal Income (PI) + Personal tax payments – Non-tax payments

Option 3: Personal Income (PI) – Personal tax payments – Non-tax payments

Option 4: Personal Income (PI) – Personal tax payments + Non-tax payments

Question : If we deduct depreciation from GNP (gross national income), the measure of aggregate income that we obtain is called _____________.

Option 1: Gross Domestic Product at market prices

Option 2: Gross Domestic Product

Option 3: Net National Product

Option 4: Personal income

Question : Which of the following taxes is levied by the state government only?

Option 1: Wealth tax

Option 2: Entertainment tax

Option 3: Income tax

Option 4: Gift tax

Question : Which of the following sets of taxes belongs to the Central Government?

Option 1: Excise duty, sales tax and custom duty

Option 2: Income tax, custom duty and house tax

Option 3: Excise duty, custom duty and income tax

Option 4: Custom duty, entertainment tax, and income tax

Question : An individual's actual standard of living can be assessed by      

Option 1: Gross National Income

Option 2: Net National Income

Option 3: Per Capita Income

Option 4: Disposable Personal Income