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 : ______ is the monetary value of all final goods and services produced within a country in a specific time period.

Option 1: National income

Option 2: Gross Domestic Product (GDP)

Option 3: Gross National Product (GNP)

Option 4: Net Domestic Product (NDP)

Question : The total value of goods and services produced in a country during a given period is

Option 1: disposable income

Option 2: national income

Option 3: per capita income

Option 4: net national income

Question : ______ is the market value of all final goods and services produced within a domestic territory of a country measured in a year.

Option 1: Gross margin

Option 2: Gross Domestic Product (GDP)

Option 3: Net National Product (NNP)

Option 4: Gross National Product (GNP)

Question : Assertion: National income is an important indicator of the economic performance of a country.

Reason: National income reflects the total value of goods and services produced within a country's borders during a specific period.

Option 1: Both Assertion and Reason are true, and the Reason is the correct explanation of the Assertion.

Option 2: Both Assertion and Reason are true, but the Reason is not the correct explanation of the Assertion.

Option 3: Assertion is true, but the Reason is false.

Option 4: Assertion is false, but the Reason is true.

Question : Statement 1: National income is an important measure of a country's economic performance.

Statement 2: National income reflects the total value of goods and services produced within a country's borders during a specific period.

Option 1: Statement 1 is true, and Statement 2 is false.

Option 2: Statement 1 is false, and Statement 2 is true.

Option 3: Both Statement 1 and Statement 2 are true.

Option 4: Both Statement 1 and Statement 2 are false.