NATIONAL INCOME & RELATED AGGREGATES

National income does not include_____

• Wages and salaries

• Rent and Royalty

• Student scholarship

• Corporate Tax

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

Net national product at factor cost is also known as:

• Net Domestic product

• Gross National product

• National Income

• Personal Income

In a circular flow of income, we have:

• Production

• Distribution

• Disposition

• All above

A person or an institution who normally resides in country and whose economic interest lies in that country is known as:

• Normal Resident of a country

• Non- resident of a country

• Both (a) and (b)

• None of these.

Transfer income is:

• One side payment.

• Factor payment.

• Factor income.

• Mixed Income

A payment made periodically to a landlord for the use of property for a specific period of time is called:

• Rent

• Profit

• Interest

• Royalty