Primary sector is ________

(a)

Industry

(b)

Trade

(c)

Agriculture

(d)

Construction.

Expenditure method is used to estimate national income in_______

(a)

Construction sector

(b)

Agricultural Sector

(c)

Service sector

(d)

Banking sector

National income is a measure of the__________ performance of an economy

(a)

Industrial

(b)

Agricultural

(c)

Economic

(d)

Consumption

__________ is deducted from gross value to get the net value

(a)

Income

(b)

Depreciation

(c)

Expenditure

(d)

Value of final goods

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

GDP stands for

(a)

Gross Domestic Product

(b)

Gross Direct Product

(c)

Gross Domestic Provident

(d)

Gross Derived Product

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

Nobel laureate Smimon Kuznets introduced the first concept of _________

(a)

Percapita Income

(b)

National Income

(c)

Domestic Income

(d)

Personal Income

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

(a)

Production

(b)

Consumption

(c)

Distribution

(d)

Exchange

______ income is never equal to the national income.

(a)

Disposal Income

(b)

Percapita Income

(c)

Personal Income

(d)

GDP Deflate

Income earned through illegal activities are __________.

(a)

gambling and smuggling

(b)

illicit extraction of liquor

(c)

gambling

(d)

All of these

National income as commonly understood by every one refers to________.

(a)

GNP

(b)

NNP

(c)

GDP

(d)

NDP

The income method of calculating national income includes the income of the _________

(a)

farmers only

(b)

businessmen only

(c)

service sector only

(d)

factors of production

In _______ method, the measures of GDP are calculated for adding total value of output produced by all activities during a year.

(a)

Expenditure

(b)

Income

(c)

Product

(d)

All the above

__________ is measured by using three method.

(a)

National Income

(b)

Domestic Income

(c)

Per capita Income

(d)

Personal Income

____________means the total money value of all final goods and services produced in a country during a particular period of time.

(a)

State Revenue

(b)

National Income

(c)

Local Expenditure

(d)

International Income

Disposable Income is also known as _________?

(a)

Disposable private income

(b)

Disposable personal income

(c)

Deductible personal income

(d)

None of the above

Given the equation, which of the following is wrong? Y = w + r + i + π + (R-P)

(a)

w = wages

(b)

r = rent

(c)

i = interest

(d)

π = income

________refers to saving an investment activities?

(a)

Firm sector

(b)

Household sector

(c)

Capital sector

(d)

Corporate sector