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 : 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 : 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 : 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.
Description : National Income is the: A. Net National Product at market price B. Net National Product at factor cost C. Net Domestic Product at market price D. Net Domestic Product at factor cost
Last Answer : C. Net Domestic Product at market price
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
Description : Which of these is/ are included in the domestic territory of a country? (a) Territory lying within the political frontier including territorial water of the country. (b) Ships and aircrafts operated by the ... (c) Fishing vessels, oil and natural gas rigs and floating platforms. ; (d) All the three
Last Answer : (b) Ships and aircrafts operated by the residents of the country between two or more countries.
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 : GPD is the money value of final goods and serviced produced in the…………. Of a country during an accounting year (a) Domestic territory ; (b) Political territory ; (c) Specific area ; (d) FTZ area
Last Answer : (a) Domestic territory ;
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 : National income is (a) NDP at market prices ; (b) NDP at factor cost ;(c) NNP at factor cost ; (d) GNP at market prices.
Last Answer : ;(c) NNP 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 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 : 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 : 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 : 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.
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
Description : Net domestic product at factor cost is less than national income when :
Last Answer : Net domestic product at factor cost is less than national income when : A. Net factor income from ... from abroad is zero D. Net exports are positive
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
Description : When is the net domestic product at market price less than the net domestic product at factor cost ?
Last Answer : When is the net domestic product at market price less than the net domestic product at factor cost ?
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 the following statement is true (a) In perfect competition Average and Marginal revenue are identical (b) In perfect competition Average and Marginal cost are identical (c) In perfect competition ... cost are identical (d) In perfect competition only normal profit can be earned by a firm
Last Answer : (a) In perfect competition Average and Marginal revenue are identical
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 : 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.
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
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 : 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 : 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 ;
Description : If we add……………. to net domestic production we get GDP (a) Depreciation ; (b) Direct tax ; (c) Indirect tax ; (d) Interest payment
Last Answer : (a) Depreciation ;
Description : According to law of supply ……….. (a) Higher the price higher the production of the product; (b) Higher the price lower the cost of production ; (c) Lower the price lower the demand for the product; (d) Higher the price higher the quantity the seller is prepared to supply in market
Last Answer : (d) Higher the price higher the quantity the seller is prepared to supply in market
Description : If a firms cost of raw material increases then (a) Market price of the final product will also increase (b) Equilibrium level of quantity also increases ; (c) Marginal cost curve will shift upward (d) Marginal cost curve will shift downward
Last Answer : ; (c) Marginal cost curve will shift upward
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 : Domestic product includes contribution of only resident producers within the domestic territory of the country.
Last Answer : Domestic product includes contribution of only resident producers within the domestic territory of the country.
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 : If both the disposal income as well as number of suppliers of a product rises, the equilibrium (a) Price remain same ; (b) Price will go up ; (c) Quantity will go up ; (d) Quantity will go down
Last Answer : (c) Quantity will go up ;
Description : Decreases in price of a product results in increased consumption of the product as the product becomes cheaper compared to other products. This effect is known as (a) Substitution effect ; (b) Income effect ; (c) Diminishing marginal utility concept; (b) Law of diminishing returns
Last Answer : (a) Substitution effect ;
Description : Increase in price of a product reduces the purchasing power as a result of which demand for a product goes up. This effect is known as (a) Substitution effect ; (b) Income effect ; (c) Diminishing marginal utility concept (d)Law of diminishing returns
Last Answer : ; (b) Income effect ;
Description : The quantity of a commodity which an individual is willing to purchase over a specific period of time is a function of (a) Price of the product ; (b) Disposal income ; (c) Taste and price of other commodities; (d) All the three
Last Answer : (d) All the three
Description : If the domestic factor income is ₹ 200 crores and the national income is ₹ 190 crores , how much will be the net factor income from abroad ?
Last Answer : If the domestic factor income is ₹ 200 crores and the national income is ₹ 190 crores , how much will be the net factor income from abroad ?
Description : Market demand curve for a commodity is a (a) Horizontal summation of all the individual demand curve for that product (b) Summation of demand curve of competitive products (c) Demand curve of average demand and price of previous six months (d) Projected demand schedule for next three months
Last Answer : (a) Horizontal summation of all the individual demand curve for that product
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 : In agricultural sector net value added is estimated by (a) Income method ; (b) Expenditure method ; (c) Production method ; (d) All the three
Last Answer : ; (c) Production method ;
Description : Ceteris paribus, an income tax (a) Increases the value of the expenditure multiplier and decreases the value of the net tax revenue multiplier; (b) Decreases the value of the expenditure and net tax ... multiplier and increases the value of the net tax revenue multiplier ; (d) None of the above.
Last Answer : (b) Decreases the value of the expenditure and net tax revenue multiplier;
Description : In the short run if the price is above the average total cost in a monopolistic competitive market, the firm makes (a) Profits and new firms join the market ; (b) Profit and bar entry to new firms; (c) Makes losses and exit the market ; (d) Quick profit and disappears
Last Answer : (a) Profits and new firms join the market ;
Description : When the price is less than the average variable cost, the firm should . (a) Continue to operate till the market recover ; (b) Shut down its operation for the time being (c) Retrench ... compensation; (d) Clear the existing stock at a price less than the prevailing price to beat the competitors
Last Answer : (b) Shut down its operation for the time being
Description : If a firms cost of raw material decreases then (a) Marginal cost curve will shift downward ; (b) Marginal cost curve will shift upward (c) Market price will go down ; (d) Market price will go up
Last Answer : (a) Marginal cost curve will shift downward ;
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,