Q. The difference between national income and domestic income is that of: net indirect taxes net factor income from abroad consumption of fixed capital both a) and b) Answer: net factor income from abroad
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Q. Which of the following is an example of normal residents of India? Foreign worker working in WHO located in India The german working as a director in IMF office located in India Ambassador in India from rest of the world Ambassador of India in rest of the world Answer: Ambassador of India in rest
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Q. Which one leads to factor cot? Market price – Indirect taxes Market price – Net indirect taxes Market price + Indirect taxes Market price + Net indirect taxes Answer: Market price – Net indirect taxes
Q. Which one includes depreciation? GNP at market price NNP at market price NNP at factor cost None of these Answer: GNP at market price
Q. Basis of the difference between the concepts of market price and factor cost is: direct taxes indirect taxes subsidies Net indirect taxes Answer: Net indirect taxes
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Q. Net indirect taxes are estimated as: Indirect taxes + Subsidies Subsidies – Indirect taxes Indirect taxes – Subsidies both b) and c) Answer: Indirect taxes – Subsidies
Q. Domestic product is equal to National product + Net factor income from abroad National product – Net factor income from abroad National product / Net factor income from abroad National Product * Net factor income from abroad Answer: National product – Net factor income from abroad
Q. Reason for the circular flow of income is: government intervention production of goods and services mutual interdependence of producer and household sector invention of money Answer: mutual interdependence of producer and household sector
Q. The market price of the final goods and services (including depreciation) produced within the domestic territory of a country during an accounting year, is called: GDP at market price GNP at market price GDP at factor cost GNP at factor cost Answer: GDP at market price
Q. National income is often estimated as: NDP at FC NNP at mp NDP at mp NNP at FC Answer: NNP at FC
