Thursday, May 28, 2015

Day 40 - Questions


Day 40 - National Income

( National Income, Method of calculation - Production, Income and Expenditure methods )


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1.  National Income is calculated on -
a.  Raw materials for goods/services
b.  Intermediate stages of producing final goods/services
c.  Final goods/services
d.  None of the above

2.  Which of the following is not a method for calculation of National Income?
a.  Production Method
b.  Income Method
c.  Expenditure Method
d.  Profit Method

3.  The method that considers all spending in the economy by households and firms on final goods and services and spending by government to calculate National Income, is known as -
a.  Production method
b.  Income method
c.  Expenditure method
d.  None of the above

4.  The method that considers wages from employment, profits to firms, interests to lenders, rents to landlords, etc. to calculate National Income, is -
a.  Production method
b.  Income method
c.  Expenditure method
d.  None of the above

5.  The method that considers all the new and final output produced in all sectors of economy to calculate National Income, is -
a.  Production method
b.  Income method
c.  Expenditure method
d.  None of the above




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