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#### National Income Two Marks Questions

12th Standard EM

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Economics

Time : 00:45:00 Hrs
Total Marks : 30
15 x 2 = 30
1. Define National Income.

2. Trace the relationship between GNP and NNP

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

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

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

6. What is National Income?

7. What is Gross Domestic Product?

8. List some limitations of GDP as a measurement of social welfare

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

10. If nominal GDP is $8 trillion and real GDP is$5 trillion, calculate the value of the GDP deflator

11. When net factor payments to the rest of the world is a positive figure what does this mean?

12. Explain what is meant by the concept of "value added" and how it can be used to calculate GDP.

13. Mention any two statistical problems as Difficulties in Measuring National Income

14. What is the features of GDPMP?

15. What is Gross Nation Product at Market Price (GNPMP)?