National Income Aggregates
Economics ⇒ National Income and Related Aggregates
National Income Aggregates starts at 12 and continues till grade 12.
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Define Net Factor Income from Abroad (NFIA).
Describe the meaning of 'market prices' and 'factor cost' in national income aggregates.
Explain the difference between GDP and GNP.
Explain the difference between GDP at market prices and GDP at factor cost.
Explain the meaning of 'Gross' and 'Net' in the context of national income aggregates.
Which of the following best describes Net Domestic Product at factor cost? (1) GDP at market prices minus depreciation and net indirect taxes (2) GDP at factor cost minus depreciation (3) NDP at market prices plus net indirect taxes (4) GDP at market prices plus net factor income from abroad
Which of the following is a flow concept? (1) Wealth (2) Income (3) Capital (4) Land
Which of the following is a stock concept? (1) Income (2) Saving (3) Wealth (4) Expenditure
Which of the following is included in the calculation of GDP at market prices? (1) Value of intermediate goods (2) Value of final goods and services (3) Transfer payments (4) Sale of shares and bonds
Which of the following is included in the calculation of GNP but not in GDP? (1) Income earned by Indian residents from abroad (2) Income earned by foreigners in India (3) Depreciation (4) Net indirect taxes
Which of the following is included in the calculation of National Income? (1) Transfer payments (2) Value of intermediate goods (3) Value of final goods and services (4) Sale of second-hand goods
Which of the following is NOT a component of Gross Domestic Product at market prices? (1) Private final consumption expenditure (2) Net exports (3) Net factor income from abroad (4) Government final consumption expenditure
Which of the following is NOT a national income aggregate? (1) GDP at market prices (2) NDP at factor cost (3) Net exports (4) NNP at factor cost
GDP at market prices is always ________ than GDP at factor cost if net indirect taxes are positive.
National Income is also known as ________ at factor cost.
Net National Product at market prices is equal to Gross National Product at market prices minus ________.
State whether the following is included in National Income: 'Imputed rent of owner-occupied houses.'
State whether the following is included in National Income: 'Interest received on government bonds.'
State whether the following is included in National Income: 'Profits earned by Indian companies abroad.'
State whether the following is included in the calculation of GDP: 'Wages paid to a domestic servant.'
