CSS :: National Income

@ : Home > Economics > National Income

NI = NE is an:

A.	Equation	B.	Identity
C.	Function	D.	None of these

Per capita income is:

A.	Income per worker	B.	Income per head
C.	Income per household	D.	Income per industrial unit

If indirect taxes are deducted from NNP and subsidies are added, we achieve:

A.	Personal savings	B.	DPI
C.	NI	D.	Per capita income

Transfer payments are not included in national income because:

A.	Such payments are made to persons living abroad	B.	Double counting would result
C.	They are illegal	D.	There is no method to account for these

To determine the correct level of GNP, it is necessary to:

A.	Add up the values of goods and services during one year	B.	Add up all savings
C.	Count all imports	D.	Add up the value of semi finished goods

Real national income increases when:

A.	Prices of goods are rising	B.	National savings increase
C.	Quantity of goods and services increases	D.	None of the above

It is considered as investment:

A.	Construction of a house	B.	Purchase of an old house
C.	Salaries of college professors	D.	Both (a) & (b)

It is considered as transfer payments:

A.	Salaries of employees	B.	Bonus of bank employees
C.	Free medical care to officers	D.	Unemployment allowance paid by govt.

GNP is always:

A.	Less than NNP	B.	Greater than NNP
C.	Equal to NNP	D.	Any of (a), (b), (c)

10.

The four factor payments are:

A.	Money, capital, salaries, and income	B.	Wages, rent, interest and profits
C.	Money, power, prices, and wealth	D.	Wages, interest, salaries and income