Question : Which of the following does not include in the national income?

Option 1: Retained earnings
 

Option 2: Government final consumption expenditure
 

Option 3: Interest on the national debt

Option 4: Payments a household makes to a business in exchange for goods and services

Question : ____________ refers to the total expenditure incurred by households on purchase of goods and services during an accounting year.
 

Option 1: Private final consumption expenditure.
 

Option 2: Government final consumption expenditure.
 

Option 3: Investment expenditure.
 

Option 4: Net exports
 

Question : _____________________ is equal to the cost of goods and services produced by the collective used by the public.

Option 1: Government final consumption expenditure.

Option 2: Private final consumption expenditure.

Option 3: Gross domestic capital formation.

Option 4: Net exports.

Question : Which of the following is an incorrect statement concerning public goods?

Option 1: Usually, public goods are provided by the government.

Option 2: Consumption of public goods by people is rivalrous in nature.

Option 3: It is not easy to collect fees for public goods from every individual.

Option 4: Public goods are non-excludable in nature.

Question : ____________ refers to the total expenditure incurred by government on consumer goods and capital goods to satisfy the common needs of the economy.
 

Option 1: Private final consumption expenditure.
 

Option 2: Government final consumption expenditure.
 

Option 3: Investment expenditure.
 

Option 4: Net exports