National Income Quiz

National Income Quiz

12th Grade

91 Qs

quiz-placeholder

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National Income Quiz

National Income Quiz

Assessment

Quiz

Other

12th Grade

Hard

Created by

Ankur Nigam

Used 3+ times

FREE Resource

91 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best defines National Income?

Total money supply in the country

Total value of goods and services produced within a country in a given period

Total taxes collected by the government

The amount of money earned by all citizens

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which concept of National Income includes income earned by residents of a country both within and outside its borders?

Gross Domestic Product (GDP)

Net Domestic Product (NDP)

Gross National Product (GNP)

Disposable Personal Income

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The difference between GNP and GDP is due to:

Capital depreciation

Government spending

Net Factor Income from Abroad (NFIA)

Net indirect taxes

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not included in National Income?

Wages and salaries

Transfer payments

Rent received from land

Profits from businesses

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is a major component of National Income?

Consumption Expenditure

Transfer Payments

Black Money

Illegal Transactions

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is National Income an important economic indicator?

It measures employment levels

It shows the economic strength of a country

It helps in policy-making

All of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is not a method of measuring National Income?

Taxation Method

Income Method

Expenditure Method

Production Method

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