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WorksheetsNATIONAL INCOME & RELATED AGGREGATES
Total questions: 20
Worksheet time: 10mins
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
State the formula of National Income at Factor Cost
National Income at Market Price − Indirect Tax
National Income at Market Price + Indirect Tax
National Income at Market Price − Net Indirect Tax
National Income at Market Price × Indirect Tax
Which of the following item is not a component of profit?
Dividend
Corporate Savings
Corporation Tax
Rent
Which of the following item is not a component of 'Operating Surplus'?
Royalty
Bonus
Interest
Rent.
The tax which is imposed on the profit of corporate is known as:
Income Tax
Corporate Tax
Sales Tax
Excise duty
1.How many approaches in calculating national income?
4
3
2
1
5.The value of the output of all goods and services produced within a country in a year.
total output
Gross Domestic Product
national income
net domestic product
Which of the following makes GDP an inappropriate index of welfare?
a) non-monetary transaction
b) externalities
c) composition and distribution of GDP
all of these
Real national income means:
a) national income at current price
b) national income at factor price
c) national income at constant price
d) national income at average price of past 10 years
The impact of externality is:
a) positive
b) negative
c) either positive or negative
d) neither positive nor negative
Items not included in the estimation of national income:
a) sale of second hand goods
b) value of intermediate goods
c) sale of shares and bonds
all of these
