Question : Which of the following is not a measure of national income?
Option 1: Gross Domestic Product (GDP)
Option 2: Gross National Product (GNP)
Option 3: Net Domestic Product (NDP)
Option 4: Consumer Price Index (CPI)
Correct Answer: Consumer Price Index (CPI)
Solution : The correct answer is (d) Consumer Price Index (CPI)
The Consumer Price Index (CPI) is not a measure of national income. It is a measure of inflation and is used to track changes in the prices of a basket of goods and services commonly consumed by households. On the other hand, Gross Domestic Product (GDP), Gross National Product (GNP), and Net Domestic Product (NDP) are all measures of national income, which capture the value of goods and services produced within a country's borders during a specific time period.
Option 3: Net National Product (NNP)
Option 4: Net Domestic Product (NDP)
Option 4: Inflation rate
Question : Net domestic product is calculated as_______.
Option 1: Gross Domestic Product (GDP) - Depreciation
Option 2: Gross National Product (GNP) - Depreciation
Option 3: Gross Domestic Product (GDP) - Net income earned from abroad
Option 4: Gross National Product (GNP) - Net income earned from abroad
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile