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

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

National Income provides a comprehensive measure of _________ activities of a nation.

(a)

Economic activity

(b)

Production activity

(c)

Consumption activity

(d)

Industrial activity

Nobel laureate Smimon Kuznets introduced the first concept of _________

(a)

Percapita Income

(b)

National Income

(c)

Domestic Income

(d)

Personal Income

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

Net Domestic = GDP - _________.

(a)

NNP

(b)

NDP

(c)

GNP

(d)

Depreciation

GNP is the total measure of the flow of _______ and services.

(a)

Semi goods

(b)

Semi finished good

(c)

Final goods

(d)

None of these

GNP includes __________ types of final goods and services.

(a)

Two

(b)

Four

(c)

Five

(d)

Three

Goods and services produced in a year to satisfy immediate wants is known as ________.

(a)

Production

(b)

Consumption

(c)

Distribution

(d)

Exchange

Inventories of finished and unfinished goods are called _________.

(a)

Net Investment

(b)

Investment

(c)

Gross Investment

(d)

Both 'a' and 'b'