National Income & Related Aggregates

National income does not include_____

• Wages and salaries

• Rent and Royalty

• Student scholarship

• Corporate Tax

The difference between value of output and value added is:

• Depreciation

• Net Indirect tax

• Intermediate consumption

• Net factor income from abroad

Product method of calculating national income is also known as:

• Income method

• Value added method

• Expenditure method

• Distribution method

Transfer payments refer to payments, which are made:

• Without any exchange of goods and services

• To workers on transfer from one job to another

• As compensation to employees

• None

National Income differs from Net National Product at market price by the amount of:

• Current transfers from rest of the world

• Net Indirect Taxes

• National debt interest

• it does not differ

GNP(MP) = GDP(MP) + ________ :

• Depreciation

• Indirect taxes

• NFIA

• Subsidy

Which of the following is not correct ?

• NNPMP = GNPMP- depreciation

• NNPMP = NNPFC + net indirect taxes

• GDPMP = GNPMP +.NFIA

• NDPFC = GDPFC – depreciation

Net national product at factor cost is also known as:

• Net Domestic product

• Gross National product

• National Income

• Personal Income

In GNP calculation which of the following should be excluded?

• Rental incomes

• Interest payments

• Dividends

• Government transfer payment

In GNP calculation which of the following should be excluded?

• Rental incomes

• Interest payments

• Dividends

• Government transfer payment