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National Income

Total questions: 10

Worksheet time: 4mins

Name
Class
Date
1.

National income does not include_____

a)

Wages and salaries

b)

Rent and Royalty

c)

Student scholarship

d)

Corporate Tax

2.

Q.Which of the following is not the part of profit?

a)

Dividend

b)

Undistributed profit

c)

Corporate tax

d)

Royalty

3.

Which of the following is an intermediate good

a)

Bread

b)

Leather

c)

Cloth

d)

Shoes

4.

Which of the following is a flow?

a)

Population

b)

Births and deaths

c)

Water in a tank

d)

None of these

5.

How many approaches in calculating national income?

a)

4

b)

3

c)

2

d)

1

6.

Which one of the following is not included in NI?

a)

Old age pension

b)

retirement pension

c)

wages

d)

bonus

7.

The national income is

a)

a. NNP at factor cost

b)

b. NNP at market price

c)

c. GNP at market price

d)

d. GNP at factor cost

8.

When a nation's exports exceed its imports and is calculated as exports - imports

a)

trade surplus

b)

trade deficit

c)

inventory

d)

gross domestic product

9.

Which is an example of a final good or service

a)

Coffee Beans at Starbucks

b)

T-Shirt at Polo Store

c)

Lumber at furniture store

d)

Wheat at a bakery

10.

What is depreciation?

a)

Capital loss

b)

Fixed capital loss

c)

Consumption of fixed capital

d)

None