National income

Find the Correct option/options:

GDP (mp) can be defined as

• The value of final Goods and Services

• produced within the domestic territory of the country

• during an accounting year

• including depreciation

Land, Labour, Capital and Entrepreneurship are also known as .........................

Formula of GDP

GDP at FC =

• GDP at MP – Net indirect taxes

• GDP at MP + Net indirect taxes

• GDP at MP + Subsidies

• GDP at MP – Indirect taxes

The market price of all final goods of a country in a year is known as:

• GDP at Market Price

• GDP at Factor Cost

• NNP at factor cost

• None

Identify which is not a part of stock

• National Income

• Wealth of a nation

• losses by Reliance in 2020

• Money supply

The following shift in the AD could be caused by what?

• A decrease in consumer confidence

• An increase in the price level

• An increase in imports

• An increase in investment

NDP at factor cost =

• Net domestic product at market price - indirect tax

• Net Domestic Product at market price+ Subsidies

• Net Domestic Product at market price at market price -Net indirect tax

• Net Domestic product at market price + Depreciation

Transfer Income, Income from sale of 2nd hand goods are always included in National Income.

• True

• False

If for a country net factor income from abroad is negative then:

• GDP < GNP

• GDP > GNP

• GDP ≥ GNP

• GDP = GNP