Question : A 'Transfer Income' is an
Option 1: Income which is not produced by any production process
Option 2: Income taken away from one person and given over to another person
Option 3: Unearned income
Option 4: Earned income
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Correct Answer: Income which is not produced by any production process
Solution : Correct Answer is Income which is not produced by any production process
Any income that a recipient receives without giving the payer any goods, services, or assets in exchange is referred to as transfer income. It excludes earnings from employment or investments. Old-age pensions, scholarships, unemployment benefits, pocket money, and other forms of transfer income are examples. Transfer income (unearned income) is also received from the following three sources: - (a) Interest on the public debt (b) Current transfer from the government.
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Question : Net domestic product is calculated as_______.
Option 1: Gross Domestic Product (GDP) - Depreciation
Option 2: Gross National Product (GNP) - Depreciation
Option 3: Gross Domestic Product (GDP) - Net income earned from abroad
Option 4: Gross National Product (GNP) - Net income earned from abroad
Question : 'Mulltinational ' is
Option 1: a person who has visited several countries
Option 2: a company operating in several countries
Option 3: a person having citizenship of several countries
Option 4: an organisation set up to help developing countries
Question : Directions: There are five friends I, J, K, L, and M. K's income is more than L's income but less than M's income. J's income is the least. I's income is less than K's income. Whose income is the maximum?
Option 1: L
Option 2: I
Option 3: K
Option 4: M
Question : P's income is 150% of Q's income and P's expenditure is 60% of Q's expenditure. If Q saves 20% of his income, then how much percentage does P save of his own income?
Option 1: 68%
Option 2: 60%
Option 3: 72%
Option 4: 75%
Question : The income of Indians working abroad is a part of the:
Option 1: domestic income of India
Option 2: income earned from abroad
Option 3: net domestic product of India
Option 4: gross domestic product of India
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