Question : ______ is the market value of all final goods and services produced within a domestic territory of a country measured in a year.

Option 1: Gross margin

Option 2: Gross Domestic Product (GDP)

Option 3: Net National Product (NNP)

Option 4: Gross National Product (GNP)

Question : If we deduct depreciation from GNP the measure of aggregate income that we obtain is called _____.

Option 1: Gross domestic product

Option 2: National income

Option 3: Private income

Option 4: Net national product

Question : Which of the following formulas is correct for Gross Value Added(GVA)?

Option 1: (GVA) = Gross National Product – Subsidies + Taxes

Option 2: GVA= Gross Domestic Product – Subsidies + Taxes

Option 3: GVA = Gross National Product + Subsidies – Taxes

Option 4: GVA = Gross Domestic Product + Subsidies – Taxes

Question : In the product method for measurement of national income, we need to deduct the value of intermediate goods to ____.

Option 1: analyse factors of production

Option 2: avoid over consumption

Option 3: avoid double counting

Option 4: estimate aggregate value of expenditure

Question : The product method used to calculate the annual value of goods and services produced is also called___________.

Option 1: value added method

Option 2: income method

Option 3: expenditure method

Option 4: depreciation method