The sum total of incomes received for the services of labour, land or capital in a country is called (1) Gross domestic product (2) National income (3) Gross domestic income (4) Gross national income

The sum total of incomes received for the services of labour, land or capital in a country is called (1) Gross domestic product (2) National income (3) Gross domestic income (4) Gross national income
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(3) Gross domestic income Explanation: The Gross Domestic Income (GDI) is the total in-come received by all sectors of an economy within a nation. It includes the sum of all wages, profits, and taxes, minus subsidies. Since all income is derived from production (including the production of services), the gross domestic income of a count should exactly equal its gross domestic product (GDP).
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The sum total of incomes received for the services of labour, land or capital in a country is called : (1) Gross domestic product (2) National income (3) Gross domestic income (4) Gross national income

Description : The sum total of incomes received for the services of labour, land or capital in a country is called : (1) Gross domestic product (2) National income (3) Gross domestic income (4) Gross national income

Last Answer :  Gross domestic income

What is the sum total of incomes received for the services of labour, land or capital in a country? -General Knowledge

Description : What is the sum total of incomes received for the services of labour, land or capital in a country? -General Knowledge

Last Answer : The answer is 'National income'

What is the sum total of incomes received for the services of labour, land or capital in a country? -General Knowledge

Description : What is the sum total of incomes received for the services of labour, land or capital in a country? -General Knowledge

Last Answer : answer:

The sum total of production of goods and services in the three sectors in a given year is called______. (a) Gross National Income (b) National Income (c) Net Domestic Product (d) Gross Domestic Product

Description : The sum total of production of goods and services in the three sectors in a given year is called______. (a) Gross National Income (b) National Income (c) Net Domestic Product (d) Gross Domestic Product

Last Answer : (d) Gross Domestic Product

What is the sum total of gross value added of all the firms in the country added with the net factor income from abroad? a) Gross Domestic Product b) Gross National Product c) Net Domestic Product d) Net National product

Description : What is the sum total of gross value added of all the firms in the country added with the net factor income from abroad? a) Gross Domestic Product b) Gross National Product c) Net Domestic Product d) Net National product

Last Answer : b) Gross National Product

The incomes of Indians working abroad are a part of - (1) domestic income of India (2) income earned from Abroad (3) net domestic product of India (4) gross domestic product of India

Description : The incomes of Indians working abroad are a part of - (1) domestic income of India (2) income earned from Abroad (3) net domestic product of India (4) gross domestic product of India

Last Answer : (3) net domestic product of India Explanation: Domestic Product is the ross money value of all final goods and services produced in the domestic territory of a country during a year. National Product ... by the normal residents of a country during a year. It includes net factor income from abroad.

The incomes of Indians working abroad are a part of (1) domestic income of India (2) income earned from Abroad (3) net domestic product of India (4) gross domestic product of India

Description : The incomes of Indians working abroad are a part of (1) domestic income of India (2) income earned from Abroad (3) net domestic product of India (4) gross domestic product of India

Last Answer : net domestic product of India

What is the sum total of gross value added of all the firms in the country minus the depreciation? a) Gross Domestic Product b) Gross National Product c) Net Domestic Product d) Net National product

Description : What is the sum total of gross value added of all the firms in the country minus the depreciation? a) Gross Domestic Product b) Gross National Product c) Net Domestic Product d) Net National product

Last Answer : c) Net Domestic Product

What is the sum total of gross value added of all the firms in the country? a) Gross Domestic Product b) Gross National Product c) Net Domestic Product d) Net National product

Description : What is the sum total of gross value added of all the firms in the country? a) Gross Domestic Product b) Gross National Product c) Net Domestic Product d) Net National product

Last Answer : a) Gross Domestic Product

What is Gross National Product: A. The total output of goods and services produced by the country’s economy B. The total domestic and foreign output claimed by residents of the country C. The sum of gross domestic product and investment

Description : What is Gross National Product: A. The total output of goods and services produced by the country’s economy B. The total domestic and foreign output claimed by residents of the country C. The sum of gross domestic product and investment

Last Answer : B. The total domestic and foreign output claimed by residents of the country

Net National Product in National Income Accounting refers to - (1) Gross Domestic Product—Depreciation (2) Gross Domestic Product + Subsidies (3) Gross National Product—Depreciation (4) Gross National Product + Subsidies

Description : Net National Product in National Income Accounting refers to - (1) Gross Domestic Product—Depreciation (2) Gross Domestic Product + Subsidies (3) Gross National Product—Depreciation (4) Gross National Product + Subsidies

Last Answer : (3) Gross National Product-Depreciation Explanation: Net national product at market price is the market value of the output of final goods and services produced at current price in one year of ... the depreciation charges from the gross national product, we get net national product at market price.

Aggregate net value of the output in one year is the - (1) National income at factor cost (2) Gross Domestic Product at market prices (3) Net. National Product at market prices (4) Gross National Product at market prices

Description : Aggregate net value of the output in one year is the - (1) National income at factor cost (2) Gross Domestic Product at market prices (3) Net. National Product at market prices (4) Gross National Product at market prices

Last Answer : (3) Net. National Product at market prices Explanation: Net national product at market price is the market value of the output of final goods and services produced at current price in ... at market price, Net national product at market price=Gross national product at market priceDepreciation.

Gross National Product - Depreciation Allowance =? (1) Per Capita Income (2) Gross Domestic Product (3) Personal Income (4) Net National Product

Description : Gross National Product - Depreciation Allowance =? (1) Per Capita Income (2) Gross Domestic Product (3) Personal Income (4) Net National Product

Last Answer : (4) Net National Product Explanation: Net National product (NNP) is Gross National Product minus a depreciation allowance for the wearing out of machines and buildings during the period. In other words, NNP= ... Since NNP counts only the net additions to the nation's stock, it is less than GNP.

The best measure to assess a country's economic growth is - (1) per capita income at constant prices (2) per capita income at current prices , (3) gross domestic product at current prices (4) gross national product at current prices

Description : The best measure to assess a country's economic growth is - (1) per capita income at constant prices (2) per capita income at current prices , (3) gross domestic product at current prices (4) gross national product at current prices

Last Answer : (1) per capita income at constant prices Explanation: Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a given period ... the aggregate (such as GDP or Gross National Income) and dividing it by the total population.

Gross National Product – Depreciation Allowance = ? (1) Per Capita Income (2) Gross Domestic Product (3) Personal Income (4) Net National Product

Description : Gross National Product – Depreciation Allowance = ? (1) Per Capita Income (2) Gross Domestic Product (3) Personal Income (4) Net National Product

Last Answer : Net National Product

Net National Product in National Income Accounting refers to (1) Gross Domestic Product— Depreciation (2) Gross Domestic Product + Subsidies (3) Gross National Product— Depreciation (4) Gross National Product + Subsidies

Description : Net National Product in National Income Accounting refers to (1) Gross Domestic Product— Depreciation (2) Gross Domestic Product + Subsidies (3) Gross National Product— Depreciation (4) Gross National Product + Subsidies

Last Answer : Gross National Product— Depreciation

Aggregate net value of the output in one year is the (1) National income at factor cost (2) Gross Domestic Product at market prices (3) Net National Product at market prices (4) Gross National Product at market prices

Description : Aggregate net value of the output in one year is the (1) National income at factor cost (2) Gross Domestic Product at market prices (3) Net National Product at market prices (4) Gross National Product at market prices

Last Answer : Net National Product at market prices

The best measure to assess a country’s economic growth is (1) per capita income at constant prices (2) per capita income at current prices (3) gross domestic product at current prices (4) gross national product at current prices

Description : The best measure to assess a country’s economic growth is (1) per capita income at constant prices (2) per capita income at current prices (3) gross domestic product at current prices (4) gross national product at current prices

Last Answer : per capita income at constant prices

What is the Gross National Product? a) The total value of Good and services manufactured in the country b) The total value of all the transactions in the country c) Reduction in the total value of goods and services produced in the country d) The total worth of goods and services generated in the country and net factor income from abroad.

Description : What is the Gross National Product? a) The total value of Good and services manufactured in the country b) The total value of all the transactions in the country c) Reduction in the total value ... d) The total worth of goods and services generated in the country and net factor income from abroad.

Last Answer : Answer- d

What do you mean by Gross National Product? a) The total value of goods and services produced in the country b) The total value of all transactions in the country c) Depreciation in the total value of goods and services produced in the country d) The total value of goods and services produced in the country and net factor income from abroad

Description : What do you mean by Gross National Product? a) The total value of goods and services produced in the country b) The total value of all transactions in the country c) Depreciation in the total ... d) The total value of goods and services produced in the country and net factor income from abroad

Last Answer : Answer- d

The income level of residents in a country is indicated by _______. A. gross national income. B. gross domestic product. C. per capita gross national income. D. per capita gross domestic product

Description : The income level of residents in a country is indicated by _______. A. gross national income. B. gross domestic product. C. per capita gross national income. D. per capita gross domestic product

Last Answer : C. per capita gross national income.

Which of the following economic concepts is categorised on the basis of Current Account or Capital Account or both? A. Balance of Payments B. Value of the food grain stock of a country C. Gross National Product D. Gross National Income(GNI) E. Total collection of Direct Taxes in a year

Description : Which of the following economic concepts is categorised on the basis of Current Account or Capital Account or both? A. Balance of Payments B. Value of the food grain stock of a country C. Gross National Product D. Gross National Income(GNI) E. Total collection of Direct Taxes in a year

Last Answer : A. Balance of Payments Explanation: A Balance of payments statements is a summary of a nation‘s total economic transactions undertaken on international account. It is usually composed of two sections :-

What is the Gross National Product minus the depreciation? a) Gross Domestic Product b) Gross National Product c) Net Domestic Product d) Net National product

Description : What is the Gross National Product minus the depreciation? a) Gross Domestic Product b) Gross National Product c) Net Domestic Product d) Net National product

Last Answer : d) Net National product

Which one of the following is not included while estimating national income through income method? (1) Rent (2) Mixed incomes (3) Pension (4) Undistributed profits

Description : Which one of the following is not included while estimating national income through income method? (1) Rent (2) Mixed incomes (3) Pension (4) Undistributed profits

Last Answer : (3) Pension Explanation: The income approach equates the total output of a nation to the total factor income received by residents or citizens of the nation. Transfer incomes are excluded from ... wages of labourers will be included, pensions of retired workers will be excluded from national income.

Which one of the following is not included while estimating national income through income method? (1) Rent (2) Mixed incomes (3) Pension (4) Undistributed profits

Description : Which one of the following is not included while estimating national income through income method? (1) Rent (2) Mixed incomes (3) Pension (4) Undistributed profits 

Last Answer : Pension

The difference between Gross National Product (GNP) and Gross Domestic Product GDP) is (a) Excess of subsidies over indirect taxes ; (b) Depreciation ; (c) Net foreign income from abroad (d) Excess of indirect taxes over subsidies

Description : The difference between Gross National Product (GNP) and Gross Domestic Product GDP) is (a) Excess of subsidies over indirect taxes ; (b) Depreciation ; (c) Net foreign income from abroad (d) Excess of indirect taxes over subsidies

Last Answer :  (c) Net foreign income from abroad

Pick out the wrong statement. (A) Gross revenue is that total amount of capital received as a result of the sale of goods or service (B) Net revenue is the total profit remaining after deducting all costs excluding taxes (C) The ratio of immediately available cash to the total current liabilities is known as the cash ratio (D) Consolidated income statement based on a given time period indicates surplus capital and shows the relationship among total income, costs & profit over the time interval

Description : Pick out the wrong statement. (A) Gross revenue is that total amount of capital received as a result of the sale of goods or service (B) Net revenue is the total profit remaining ... indicates surplus capital and shows the relationship among total income, costs & profit over the time interval

Last Answer : (C) Working capital turnover ratio = sales/net working capital

Gross National Product is the money measure of - (1) all tangible goods produced in a country (2) final goods and services produced in the economy (3) services generated annually in the economy (4) all tangible goods available in the economy

Description : Gross National Product is the money measure of - (1) all tangible goods produced in a country (2) final goods and services produced in the economy (3) services generated annually in the economy (4) all tangible goods available in the economy

Last Answer : (2) final goods and services produced in the economy Explanation: Gross national product (GNP) is the market value of all products and services produced in one year by labour and property supplied ... (including income of those located abroad), minus income of non-residents located in that country.

Gross National Product is the money measure of (1) all tangible goods produced in a country (2) final goods and services produced in the economy (3) services generated annually in the economy (4) all tangible goods available in the economy

Description : Gross National Product is the money measure of (1) all tangible goods produced in a country (2) final goods and services produced in the economy (3) services generated annually in the economy (4) all tangible goods available in the economy

Last Answer :  final goods and services produced in the economy

GDP is defined as (a) The market value of all goods and services produced in the domestic economy during the year ; (b) Current value of all the capital goods produced in the country. ; (c) Sum of goods and services exported during the year. ; (d) All the capital goods and consumable goods produced and sold during the year

Description : GDP is defined as (a) The market value of all goods and services produced in the domestic economy during the year ; (b) Current value of all the capital goods produced in the country. ; (c) ... during the year. ; (d) All the capital goods and consumable goods produced and sold during the year

Last Answer : (a) The market value of all goods and services produced in the domestic economy during the year ; 

Acording to Keynesian theory of income determination, at full employment, a fall in aggregate demand causes - (1) a fall in prices of output and resources (2) a fall in real gross National product and employment (3) a rise in real gross National product and investment (4) a rise in prices of output and resources

Description : Acording to Keynesian theory of income determination, at full employment, a fall in aggregate demand causes - (1) a fall in prices of output and resources (2) a fall in real gross National product ... a rise in real gross National product and investment (4) a rise in prices of output and resources

Last Answer : (1) a fall in prices of output and resources Explanation: In 1936, John Maynard Keynes published the book "The General Theory of Employment, Interest and Money to explain the prolonged and ... at a below-full-employment equilibrium. Suppose that the economy is at the full-employment equilibrium.

Depreciation is equal to — (1) Gross national product —Net national product (2) Net national product —Gross national product (3) Gross national product —Personal income (4) Personal income — Personal taxes

Description : Depreciation is equal to — (1) Gross national product —Net national product (2) Net national product —Gross national product (3) Gross national product —Personal income (4) Personal income — Personal taxes

Last Answer : (1) Gross national product -Net national product Explanation: Net national product at market price is the market value of the output of final goods and services produced at current price in ... we get net national product at market price. So depreciation = Gross National ProductNet National Product,

Which of the following is not required while computing Gross National Product (GNP)? (1) Net foreign investment (2) Private investment (3) Per capita income of citizens (4) Purchase of goods by government

Description : Which of the following is not required while computing Gross National Product (GNP)? (1) Net foreign investment (2) Private investment (3) Per capita income of citizens (4) Purchase of goods by government

Last Answer : (3) Per capita income of citizens Explanation: Gross National Product (GNP) is the market value of all products and services produced in one year by labour and property supplied by the ... measures the value of goods and services that the country's citizens produced regardless of their location.

Depreciation is equal to — (1) Gross national product — Net national product (2) Net national product — Gross national product (3) Gross national product — Personal income (4) Personal income — Personal taxes

Description : Depreciation is equal to — (1) Gross national product — Net national product (2) Net national product — Gross national product (3) Gross national product — Personal income (4) Personal income — Personal taxes

Last Answer : Gross national product — Net national product

Which of the following is not required while computing Gross National Product (GNP) ? (1) Net foreign investment (2) Private investment (3) Per capita income of citizens (4) Purchase of goods by government

Description : Which of the following is not required while computing Gross National Product (GNP) ? (1) Net foreign investment (2) Private investment (3) Per capita income of citizens (4) Purchase of goods by government

Last Answer : Per capita income of citizens 

According to Keynesian theory of income determination, at full employment, a fall in aggregate demand causes (1) a fall in prices of output and resources (2) a fall in real gross National product and employment (3) a rise in real gross National product and investment (4) a rise in prices of output and resources

Description : According to Keynesian theory of income determination, at full employment, a fall in aggregate demand causes (1) a fall in prices of output and resources (2) a fall in real gross National product and ... rise in real gross National product and investment (4) a rise in prices of output and resources

Last Answer :  a fall in prices of output and resources

National Income is the - (1) Net National Product at market price (2) Net National Product at factor cost (3) Net Domestic Product at market price (4) Net domestic Product at factor cost

Description : National Income is the - (1) Net National Product at market price (2) Net National Product at factor cost (3) Net Domestic Product at market price (4) Net domestic Product at factor cost

Last Answer : (2) Net National Product at factor cost Explanation: Net National Product. at factor cost is also called as national income. Net National Product at factor cost is equal to sum total of value added at ... of the flow of output of goods and services produced within an economy over a period of Lime.

National Income is the (1) Net National Product at market price (2) Net National Product at factor cost (3) Net Domestic Product at market price (4) Net domestic Product at factor cost

Description : National Income is the (1) Net National Product at market price (2) Net National Product at factor cost (3) Net Domestic Product at market price (4) Net domestic Product at factor cost

Last Answer : Net National Product at factor cost 

The ratio of the incomes of A and B last year was 9 : 13. Ratio of their incomes of last year to this year is 9 : 10 and 13 : 15 respectively. The sum of their present incomes is Rs 50,000. What is the present income of B? A) Rs 32,000 B) Rs 24,000 C) Rs 20,000 D) Rs 30,000 E) None of these

Description : The ratio of the incomes of A and B last year was 9 : 13. Ratio of their incomes of last year to this year is 9 : 10 and 13 : 15 respectively. The sum of their present incomes is Rs 50,000. What is the present income of B? A) Rs 32,000 B) Rs 24,000 C) Rs 20,000 D) Rs 30,000 E) None of these

Last Answer : Answer: D ratio of the incomes of A and B last year was 9x : 13y Now given that ratio of the incomes of A and B last year was 9 : 13. So 9x/13y = 9/13 This gives x = y Total of incomes of A ... = 50,000 This gives x = 2,000 So present income of B = 15y = 15x = 15*2000 = 30,000

The total value of goods and services produced in a country during a given period is - (1) Disposable income (2) National income (3) Per capita income (4) Net national income

Description : The total value of goods and services produced in a country during a given period is - (1) Disposable income (2) National income (3) Per capita income (4) Net national income

Last Answer : (2) National income Explanation: National income is the total value a country's final output of all new goods and services produced in one year. Understanding how national income is created is the starting point for macroeconomics.

The total value of goods and services produced in a country during a given period is (1) Disposable income (2) National income (3) Per capita income (4) Net national income

Description : The total value of goods and services produced in a country during a given period is (1) Disposable income (2) National income (3) Per capita income (4) Net national income

Last Answer : National income

Compared to the rich the poor save - (1) A larger part of their income (2) An equal part of their income (3) A smaller part of their income (4) All of their incomes

Description : Compared to the rich the poor save - (1) A larger part of their income (2) An equal part of their income (3) A smaller part of their income (4) All of their incomes

Last Answer : (3) A smaller part of their income Explanation: A "subsistence" or necessary level of consumption produces differences in consumption growth rates across income levels. This implies that poor ... necessities. Institutional and behavioral mechanism also leads to low levels of saving among the poor.

Compared to the rich the poor save (1) A larger part of their income (2) An equal part of their income (3) A smaller part of their income (4) All of their incomes

Description : Compared to the rich the poor save (1) A larger part of their income (2) An equal part of their income (3) A smaller part of their income (4) All of their incomes

Last Answer : A smaller part of their income

Gross National Product means - (1) gross value of finished goods (2) money values of the total national production for any given period (3) gross value of raw materials and semifinished products (4) money value of inputs and outputs

Description : Gross National Product means - (1) gross value of finished goods (2) money values of the total national production for any given period (3) gross value of raw materials and semifinished products (4) money value of inputs and outputs

Last Answer : (2) money values of the total national production for any given period Explanation: Gross national product (GNP) is the market/monetary value of all products and services produced in one year by labour and property supplied by the residents of a country.

Gross National Product means (1) gross value of finished goods (2) money values of the total national production for any given period (3) gross value of raw materials and semi-finished products (4) money value of inputs and outputs

Description : Gross National Product means (1) gross value of finished goods (2) money values of the total national production for any given period (3) gross value of raw materials and semi-finished products (4) money value of inputs and outputs

Last Answer : money values of the total national production for any given period

What is the importance of human capital for a country's Gross Domestic Product?

Description : What is the importance of human capital for a country's Gross Domestic Product?

Last Answer : I would just assume it’s because manpower is sorta valuable.

. Terms of trade is (a) the ratio of imports / exports (b) the ratio of exports/imports © the ratio of goods/services (d) the ratio of land/labour

Description : . Terms of trade is (a) the ratio of imports / exports (b) the ratio of exports/imports © the ratio of goods/services (d) the ratio of land/labour

Last Answer : (b) the ratio of exports/imports

According to Modern Theory of Rent, rent accrues to - (1) capital only (2) any factor (3) labour only (4) land only

Description : According to Modern Theory of Rent, rent accrues to - (1) capital only (2) any factor (3) labour only (4) land only

Last Answer : (2) any factor Explanation: Modern theory of rent does not confine itself to the reward of only land as a factor of production as was the case in the classical Ricardian theory of rent. Rent in ... can arise in respect of any other factor of production. i.e., labour, capital and entrepreneurship.

The four factors of production are - (1) land, labour, capital, organisation, (2) land, electricity, water, labour (3) labour, capital, land, rainfall, (4) labour, climate, land, tools,

Description : The four factors of production are - (1) land, labour, capital, organisation, (2) land, electricity, water, labour (3) labour, capital, land, rainfall, (4) labour, climate, land, tools,

Last Answer : (1) land, labour, capital, organisation, Explanation: Factors of Production is an economic term to describe the inputs that are used in the production of goods or services in the attempt to ... -made resources), and (iv) Enterprise (which brings all the previous resources together for production).

Economic rent refers to - (1) Payment made for the use of labour (2) Payment made for the use of capital (3) Payment made for the use of organisation (4) Payment made for the use of land

Description : Economic rent refers to - (1) Payment made for the use of labour (2) Payment made for the use of capital (3) Payment made for the use of organisation (4) Payment made for the use of land

Last Answer : (4) Payment made for the use of land Explanation: Rent refers to that part of payment by a tenant which is made only for the use of land, i.e., free gift of nature. The payment made by ... rent'. Economic rent is also called surplus because it emerges without any effort on the part of a landlord.