Q. Which of the following is included in the compensation of employees? Dearness Allowance Tools were given to employees to be used during work Payment by the insurance company to an injured employee Contribution by employee to the provident fund. Answer: Dearness Allowance
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Q. If net national product is given at Marke prices, we_____indirect taxes and______subsidies to get National Income of the economy. Add, Subtract Add, Divide Subtract, Add Subtract, Divide Answer: Subtract, Add
Q. National Income is equal to: Domestic product plus factor incomes earned from abroad Domestic product plus net factor incomes earned from abroad Domestic product minus factor incomes to abroad Domestic product plus export minus imports Answer: Domestic product plus net factor incomes earned from abroad
Domestic factor income is another name for: NDP at FC NNP at MP GDP at FC NNP at FC Answer: NDP at FC
Q. Net domestic product at factor cost is less than national income when: Net factor income from abroad is positive Net factor income from abroad is negative Net factor income from abroad is zero Net exports are positive Answer: Net factor income from abroad is positive
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Q. In which type of country, domestic income is equal to national income? open Economy Closed Economy Both a) and b) Neither a) nor b) Answer: Closed Economy
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Q. If economic subsidies are added to and indirect taxes are subtracted from the national income at market prices, then it will be equal to: Domestic Income National Income Gross national product at market prices Gross Domestic product at factor cost Answer: National Income
Q. Which of the following is not a component of operating surplus? Interest Rent Royalty Compensation of Employees Answer: Compensation of Employees
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Q. Out of the following, which aggregate represents ‘National Income’? NNP at MP GNP at FC NNP at FC GNP at MP Answer: NNP at FC
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Q. Goods purchased for the following purpose are final goods: For the satisfaction of wants For investment in firm Both 1 and 2 None of the above Answer: Both 1 and 2
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