Tag: methods of measuring national income

Questions Related to methods of measuring national income

Unpaid service should be _____ in the estimate of net income.

  1. excluded

  2. included

  3. nullified

  4. added


Correct Option: A

Expenditure method is ________ used to calculate national income.

  1. widely

  2. rarely

  3. broadly

  4. always


Correct Option: B

Positive net foreign income from broad brings an increases in national income.

  1. True

  2. False


Correct Option: A

With an increase in income savings naturally ________.

  1. decreases

  2. increases

  3. becomes zero

  4. constant


Correct Option: B

The income of the government through all sources is called public _________.

  1. money

  2. income

  3. debt

  4. revenue


Correct Option: D

Given Real GDP 9% and rate of inflation 2.25%, the norminal GDP will be ___.

  1. 9%

  2. 11.25%

  3. 6.75%

  4. 8%


Correct Option: B

"Determination of wage rate, distribution of national income" was the theory given by?

  1. Adam smith

  2. A. marshall

  3. Ricardo

  4. Pigon


Correct Option: B

For studying the various national income components it is required that data should be collected on _______________.

  1. Expenditure

  2. Investments

  3. Income

  4. All of the above


Correct Option: D

The net values added (NVA) method of measuring national income is also known as ______.

  1. net output method

  2. production method

  3. industry of origin method

  4. all of the above


Correct Option: D
Explanation:

The NVA method of measuring national income is also known as net output method, production method and industry of origin method.

Identify the items which is not a factor payment.

  1. Free uniform to defense personnel

  2. Salaries to the members of Parliament

  3. Imputed rent of an owner occupied building

  4. Scholarship given to the scheduled caste students


Correct Option: D
Explanation:

Factors payments are those payments, which are made to factors of production e.g. rent, interest, profit, wages etc. Scholarships given to the scheduled caste students is not a factor payment, it is a transfer payment and it will not be included in national income.