Tag: methods of national income

Questions Related to methods of national income

Which of the following are the methods for measuring National Income?

  1. The Product or Value Added Method

  2. Expenditure Method

  3. Income Method

  4. All of the above


Correct Option: D

Total revenue $\div$ Number of units sold $=$ ____________.

  1. Average revenue

  2. Average cost

  3. Marginal cost

  4. Total cost


Correct Option: A
Explanation:

Average means value derived by way of dividing the total value by the total number of units. Whenever any goods are sold or services are provided to any consumer then amount so received from the consumer is termed as revenue or receipts.

Therefore Total revenue / Number of Units sold gives Average Revenue.

________ income in excluded in the calculation of net income.

  1. Factor

  2. Portable

  3. Movable

  4. Transfer


Correct Option: D

Income from sale of second hand property should be included in national income.

  1. True

  2. False


Correct Option: B

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