Which is the largest figure?

(a)

Disposable income

(b)

Personal Income

(c)

NNP

(d)

GNP

Tertiary sector is also called as __________sector

(a)

Service

(b)

Income

(c)

Industrial

(d)

Production

Per capita income is obtained by dividing the National income by__________

(a)

Production

(b)

Population of a country

(c)

Expenditure

(d)

GNP

NNP stands for___________

(a)

Net National Product

(b)

National Net product

(c)

National Net Provident

(d)

National Net Provident

When net factor income from abroad is deducted from NNP, the net value is__________

(a)

Gross National Product

(b)

Disposable Income

(c)

Net Domestic Product

(d)

Personal Income

The value of NNP at production point is called _________.

(a)

NNP at factor cost

(b)

NNP at market cost

(c)

GNP at factor cost

(d)

Per capita income

PQLI is the indicator of___________.

(a)

Economic growth

(b)

Economic welfare

(c)

Economic welfare

(d)

Economic development

The largest proportion of national income comes from___________

(a)

Private sector

(b)

Local sector

(c)

Public sector

(d)

None of the above

GNP stands for

(a)

Net National Product

(b)

Gross Net Product

(c)

Gross Net Provident

(d)

Gross National Product

GDP stands for

(a)

Gross Domestic Product

(b)

Gross Direct Product

(c)

Gross Domestic Provident

(d)

Gross Derived Product

Formula for calculating NNP at factor cost.

(a)

\(\frac{Nominal\ GDP}{Real\ GDP}\times 100\)

(b)

NNP at Market Prices - Indirect taxes + Subsidies.

(c)

GNP - Depreciation allowance

(d)

Output = Income = Expenditure

Value of output =

(a)

Sales + Change in stock

(b)

Sales - Change in stock

(c)

Sales \(\div\) Change in stock

(d)

Sales x Change in stock

Percapita Income =

(a)

National Income - Population

(b)

National Income + Population

(c)

National Income \(\div\) Population

(d)

National Income x Population

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

GDP by expenditure at ________ price.

(a)

Factor price

(b)

Market price

(c)

Real price

(d)

All the above

______ income is never equal to the national income.

(a)

Disposal Income

(b)

Percapita Income

(c)

Personal Income

(d)

GDP Deflate

_________ Income is the buying power of nominal income.

(a)

Gross Income

(b)

Real Income

(c)

Percapita Income

(d)

National Income

Output = Income = _________

(a)

Price

(b)

Expenditure

(c)

Income

(d)

None of these

_________ reflects the economic welfare of the country.

(a)

Personal Income

(b)

Percapita Income

(c)

Disposal Income

(d)

All of these

__________ Framework is useful for economists as well as policy makers.

(a)

Social Accounting

(b)

Statistics

(c)

Capital Gains

(d)

None of these

GDP by expenditure method at market prices

(1)

\(\frac{Nominal\ GDP}{Real \ GDP}\times100\)

Net domestic product

(2)

GNP - Depreciation allowance

NNP

(3)

GDP -Depreciation

Disposable income

(4)

C+I+G+(X-M)

GDP - deflator

(5)

Personal income - Direct tax