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WorksheetsNational Income & Related Aggregates
Total questions: 15
Worksheet time: 8mins
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
Domestic income and national income becomes equal when
NFIA is +ve
NFIA is -ve
Factor income received from abroad equals to factor income paid ta abroad
Net indirect tax is zero
NNP at market price equals to NNP at factor cost, if
Net indirect tax is +ve
Net indirect tax is -ve
Indirect tax=Subsidy
None
To avoid Problem of double counting, which method is most suitable?
Income method
Expenditure method
Value added method
Final goods method
----------- causes leakage in circular flow of income.
Taxes
Savings
Exports
All above
In a circular flow of income, we have:
Production
Distribution
Disposition
All above
