Question : The total value of goods and services produced in a country during a given period is
Option 1: disposable income
Option 2: national income
Option 3: per capita income
Option 4: net national income
Correct Answer: national income
Solution : The correct answer is national income.
National income is defined as the total monetary worth of all services and products generated by a country during a certain period. In other words, it is the total of all factor revenue created within a given production year. National income is a measure of the country's economic activity.
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Question : What is an indicator of self-reliance?
Option 1: Increase in imports of the goods which could be produced in the country
Option 2: Avoiding imports of the goods which could be produced in the country
Option 3: Increase in exports of the goods which could not be produced in the country
Option 4: Avoiding exports of the goods which could be produced in the country
Question : Net National Product of a country is:
Option 1: Gross Domestic Product (GDP) minus depreciation allowances
Option 2: Gross Domestic Product (GDP) plus net income from abroad
Option 3: Gross National Product (GNP) minus net income from abroad
Option 4: Gross National Product (GNP) minus depreciation allowances
Question : What is the full form of GNI?
Option 1: Gross National Interest
Option 2: Gross National Income
Option 3: Gross Net Interest
Option 4: Gross Net Income
Question : Which of the following best indicates the economic growth of a nation?
Option 1: Agriculture income
Option 2: Per capita income
Option 3: Gross industrial production
Option 4: Inflation
Question : Gross Domestic Product (GNP) - Depreciation allowances = ____________.
Option 1: National Income
Option 2: Net Domestic Product (NDP)
Option 3: Net National Product (NNP)
Option 4: Gross National Product (GNP)
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