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#### National Income - Two Marks Study Materials

12th Standard EM

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Economics

Time : 01:00:00 Hrs
Total Marks : 30
15 x 2 = 30
1. Define National Income.

2. Write the formula for calculating GNP

3. What is the difference between NNP and NDP?

4. Trace the relationship between GNP and NNP

5. What do you mean by the term ‘Personal Income’?

6. Define GDP deflator

7. Why is self consumption difficult in measuring national income?

8. What are the basic concepts for measuring national income?

9. What is Gross Domestic Product?

10. What are unpaid services?

11. What is the underground economy and what is its relationship if any to the value of GDP?

12. Mention the sector divided in social accounting method

13. If NNP is $7 trillion, net investment is$500 billion and gross investment is \$1 trillion determine the level of GNP.

14. Define GDP in broad terms

15. What is the features of GDPMP?