Description : Net factor income from abroad is equal to (a) NNP at market price – NDP at market price ; (b) NDP at market prices – Indirect taxes + Subsidies ; (c) NDP at factor cost + Depreciation ; (d) NNP at market prices + Depreciation
Last Answer : (a) NNP at market price – NDP at market price ;
Description : National income is A. NDP at market prices B. NDP at factor cost C. GNP at market prices.
Last Answer : C. GNP at market prices.
Description : National Income is also called as : (1) GNP at Factor Cost (2) GNP at Market Price (3) (3) NNP at Factor Cost (4) (4) NNP at Market Price
Last Answer : (1) GNP at Factor Cost Explanation: National Income is the total value of all goods and services produced in the economy during a particular period of time.
Description : National Income is also called as : (1) GNP at Factor Cost (2) GNP at Market Price (3) NNP at Factor Cost (4) NNP at Market Price
Last Answer : GNP at Factor Cost
Description : If we add……………. to national income we get NDP (a) Depreciation ; (b) Net foreign factor income ; (c) Indirect-tax ; (d) Transfer payment
Last Answer : (b) Net foreign factor income ;
Description : Which of the following equation is correct? (a) GNP=GDP+Net factor income from abroad (b) GNP=GDP+Gross factor income from abroad (c) GNP=GDP-Net factor income from abroad (d) GNP=GDP-Gross factor income from abroad
Last Answer : (a) GNP=GDP+Net factor income from abroad
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
Description : NDP does not include (a) Payments made for income taxes ; (b) Depreciation allowances ; (c) Undistributed profits; (d) The value added from intermediate goods.
Last Answer : (b) Depreciation allowances ;
Description : The net factor income earned within the domestic territory of a country must be equal to (a) Net Domestic Product at factor cost ; (b) Net Domestic Product at market price; (c) Net National Product at market price ; (d) Personal income.
Last Answer : (a) Net Domestic Product at factor cost ;
Description : Which of these is not a factor of cost function of a product (a) Market price of the product ; (b) Size of the plant ; (c) Output level ; (d) Prices of inputs
Last Answer : (a) Market price of the product ;
Description : Which of the following equation is correct (a) NDP=GDP- Depreciation ; (b) NDP=GDP+ Depreciation ; (b) NDP=GDP- Depreciation-subsidy; (d) NDP=GDP- Depreciation+subsidy
Last Answer : (a) NDP=GDP- Depreciation ;
Description : GDP at factor cost exceeds GDP at market price (a) When the factor income from abroad is negative ; (b) When depreciation on fixed capital exceeds income in investment; (c) When direct tax exceeds indirect tax ; (d) When subsidies exceeds indirect taxes.
Last Answer : (d) When subsidies exceeds indirect taxes.
Description : GDP at market price exceeds GDP at factor cost by the amount of revenue raised through ………………. (a) Direct taxes ; (b) Indirect taxes ; (c) Income tax ; (d) Tax on rents
Last Answer : ; (b) Indirect taxes ;
Description : The difference between the GNP and the NNP is equal to the - (1) consumer expenditure on durable goods (2) direct tax revenue (3) indirect tax revenue (4) capital depreciation
Last Answer : (4) capital depreciation Explanation: Depreciation refers to two very different but related concepts: the decrease in value of assets (fair value depreciation), and the allocation of the cost of ... equal to capital depreciation. It is the wearing out, breaking down, or technological obsolescence.
Description : The difference between GNP and NNP equals - (1) corporate profits (2) personal taxes (3) transfer payments (4) depreciation
Last Answer : (4) depreciation Explanation: Gross National Product [GNP) is the gross value of all the final products without deducting the depreciation of fixed capital. Net National Product (NNP) is the value of ... a period of one year. The difference between the GNP and NNP is equal to Capital depreciation.
Description : Which of the following is deducted from GNP to arrive at NNP? (1) Depreciation (2) Interest (3) Tax (4) Subsidy
Last Answer : (1) Depreciation Explanation: If we subtract the depreciation charges from the gross national product, we get net national product at market price. Net national product at market price=Gross national product at market priceDepreciation.
Description : Which of the following is deducted from GNP to arrive at NNP ? (1) Depreciation (2) Interest (3) Tax (4) Subsidy
Last Answer : Depreciation
Description : The difference between the GNP and the NNP is equal to the (1) consumer expenditure on durable goods (2) direct tax revenue (3) indirect tax revenue (4) capital depreciation
Last Answer : capital depreciation
Description : If GDP exceeds GNP the possible reasons could be (a) Foreigners are earning more in India than Indians are earning in foreign countries (b) High incidence of plant and machinery wear out (c) Indian are earning more in foreign countries than foreigners earnings in India (d) None
Last Answer : (a) Foreigners are earning more in India than Indians are earning in foreign countries
Description : In an open economy (a) GDP=GNP ; (b) GDP>GNP ; (c) GDP
Last Answer : ; (d) All the three are possible
Description : In a closed economy (a) GDP=GNP ; (b) GDP>GNP ; (c) GDP
Last Answer : (a) GDP=GNP ;
Description : All entries in the balance of payments should collectively sum to (a) GDP of that country ; (b) GNP of that country ; (c) Zero ; (d) Exports of that country.
Last Answer : (c) Zero
Description : At a given time and in a given marketplace, the entire market demand curve indicates the (a) quantity of a good consumers would be willing and able to purchase at a given price. (b) quantity of a ... a given price (d) quantity of a good consumers have purchased at a series of prices over the year.
Last Answer : (b) quantity of a good consumers would be able to purchase at a series of prices.
Description : …………… it is the form of the market in which the only seller of a commodity has fully control over the prices (a) Monopoly ; (b) Pure monopoly ; (c) Simple monopoly ; (d) All the three
Last Answer : (b) Pure monopoly ;
Description : GDP at market prices is the sum of Consumption, Investment, Government Spending and Net Exports. „Net‟ exports is (a) Gross exports minus depreciation ; (b) Exports minus imports ; (c) Gross exports earnings minus capital inflow ; (d) Export minus imports of merchandize
Last Answer : (b) Exports minus imports ;
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.
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
Description : Which of these is/are not included in net domestic product at factor cost. (a) Wages or compensation of employees ; (b) Rent, interest, profits or operating surplus; (c) Mixed income ; (d) None
Last Answer : (d) None
Description : Which of these is not a factor of quantity supplied (a) Price of the goods ; (b) Price of the related other goods; (c) Cost of production ; (d) Consumers disposal income
Last Answer : ; (d) Consumers disposal income
Description : The central problem of how to produce is resolved by (a) Demand and supply of factor inputs ; (b) Demand and supply of goods; (c) Relative prices and availability of factors of production ; (d) Government intervention
Last Answer : (c) Relative prices and availability of factors of production
Description : Which of the following is not a factor in market supply of a product (a) Cost of production ; (b) Number of buyers ; (c) Market price of the product; (d) Price of related products
Last Answer : (b) Number of buyers ;
Description : Which of the following is not a factor is market supply of product (a) Cost of production ; (b) Number of buyers ; (c) Market price of the product ; (d) Price of related products
Last Answer : (b) Number of buyers
Description : Calculate National Income or NNP at FC .
Last Answer : Calculate National Income or NNP at FC .
Description : The most simple and popular method of measuring economic development is to calculate the trend of Gross National Product (GNP) at: A. Current Prices B. Constant Prices C. Both of the above D. None of the above
Last Answer : B. Constant Prices
Description : At a given price increase in quantity supplied can be possible if …………… (a) There is apprehension of sharp fall in prices in future ; (b) Refund or subsidy of statutory levy in cash is given by the Government; (c) Improvement in technology led to cost saving ; (d) All the three
Last Answer : ; (d) All the three
Description : If there is simultaneous fall in consumers disposal income as well number of suppliers of a product in the market, the (a) Equilibrium quantity will decrease ; (b) Equilibrium price will decrease ; (c) Equilibrium price will go up ; (d) Equilibrium quantity will increase
Last Answer : (a) Equilibrium quantity will decrease ;
Description : The quantity of a commodity that an individual is willing to purchase over a specified period of time is a function of except ………. (a) Price of the commodity ; (b) Price of the competitive products; (c) His disposal income ; (d) Price of factor of production
Last Answer : ; (d) Price of factor of production
Description : Personal disposable income is equal to .. (a) Wages and salaries + Dividends paid at home - Personal income tax (b) Wages and salaries + Dividends paid at home + Factor income ... + Dividends paid at home + Factor income received from abroad - Transfers from government - Personal income tax.
Last Answer : (c) Wages and salaries + Dividends paid at home + Factor income received from abroad + Transfers from government – Personal income tax.
Description : Which of these items are excluded in the computation of National Income under value added method? (a) Own acquired fixed assets by the Government enterprises, Govt. and household; (b) Production for self-consumption ; (c) Imputed rent for own occupied house ; (d) All the three
Last Answer : (d) All the three
Description : National income is the ……………. Of all the goods and services produced by a country during a period of year (a) Physical quantity ; (b) Money value ; (c) `Value ; (d) All the three
Last Answer : (b) Money value ;
Description : During the recessionary phase of a business cycle (a) The natural rate of unemployment will increase dramatically (b) Potential national income will exceed actual national income (c) Actual national income ... national income (d) The real rate of interest will exceed the nominal rate of interest.
Last Answer : (a) The natural rate of unemployment will increase dramatically
Description : Financial interrelation ratio is equal to (a) Total issues / National income ; (b) Primary issues / Net capital formation; (c) Total issues / Net capital formation ; (d) Total stock of financial assets/Stock of fiscal assets
Last Answer : (c) Total issues / Net capital formation
Description : Which of the following methods is/are used for measuring national income? (a) Output method ; (b) Expenditure method ; (c) Income method ; (d) All of (a), (b) and (c) above.
Last Answer : (d) All of (a), (b) and (c) above.
Description : The …………………………….. measurement method of national income aggregates all the money spent by private citizens, firms and the government within the year. (a) Expenditure ;(b) Income ; (c) Input ; (e) Saving
Last Answer : (a) Expenditure
Description : Which of these are outside the domain of macro economics (a) Consumer behavior ; (b) National income ; (c) Economic growth; (d) Balance of payment and trade
Last Answer : (a) Consumer behavior ;
Description : Net National Product of a country is - (1) GDP minus depreciation allowances (2) GDP plus net income from abroad (3) GNP minus net income from abroad (4) GNP minus depreciation allowances
Last Answer : (4) GNP minus depreciation allowances Explanation: Net national product (NNP) is the total market value of all final goods and services produced by residents in a country or other polity during a given ... and NDP is equal to gross domestic product (GDP) minus depreciation: NDP = GDP - depreciation.
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.
Description : Net National Product of a country is (1) GDP minus depreciation allowances (2) GDP plus net income from abroad (3) GNP minus net income from abroad (4) GNP minus depreciation allowances
Last Answer : GNP minus depreciation allowances
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
Description : Which of these is one of the causes of inflation? (a) Increase in public expenditure ; (b) Deficit financing ; (c) Increase in administrative prices (d) All the three