Net National product at factor cost is also known as

(a)

National Income

(b)

Domestic Income

(c)

Per capita Income

(d)

Salary

Tertiary sector is also called as __________sector

(a)

Service

(b)

Income

(c)

Industrial

(d)

Production

NNP stands for___________

(a)

Net National Product

(b)

National Net product

(c)

National Net Provident

(d)

National Net Provident

The average income of the country is________

(a)

Personal Income

(b)

Per capita income

(c)

Inflation Rate

(d)

Disposal Income

The largest proportion of national income comes from___________

(a)

Private sector

(b)

Local sector

(c)

Public sector

(d)

None of the above

A country which has no economic relations with other countries in termed as

(a)

Open economy

(b)

Closed economy

(c)

Planned economy

(d)

Command economy

GDP calculate at market price is known as __________.

(a)

GDP at factor price

(b)

NDP at factor price

(c)

GNP at factor price

(d)

GDP at Market price

Net Domestic = GDP - _________.

(a)

NNP

(b)

NDP

(c)

GNP

(d)

Depreciation

The difference between value of exports and imports of goods and services is known as

(a)

X - M

(b)

G + I

(c)

X x M

(d)

All the above

_________ Income is the buying power of nominal income.

(a)

Gross Income

(b)

Real Income

(c)

Percapita Income

(d)

National Income

Product Method

(1)

Economic Welfare

Expenditure method

(2)

Double counting

Secondary sector

(3)

Net National Product

NNP

(4)

Outlay method

PQLI

(5)

Industry sector

Concepts of National Income
(a) Gross National Product
(b) Gross Domestic Product
(c) Net National Product
(d) Output = Income = Expenditure

Per Capita Income
(a) The total income of a country
(b) The average income of a person
(c) National Income / Population
(d) GDP / Population

Define National Income.

What is the difference between NNP and NDP?

Trace the relationship between GNP and NNP.

Define GDP deflator.

Write the formula for calculating NDP.

What do you mean by Real Income?

What is Gross Domestic Product?

What are capital gains?

Differentiate between personal and disposable income.

Give short note on Expenditure method.

List out the uses of national income.

What is Depreciation?

What are the steps involved in income method?

Explain the importance of national income

Discuss the importance of social accounting in economic analysis.