Friday, May 29, 2015

Day 41 - Questions


Day 41 - GDP, GNP, NNP, NI

( Gross Domestic Product, Gross National Product, Net National Product, National Income )


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1.  All domestic products, including international companies operating within territory of a country, and excluding domestic workers/companies operating in foreign countries, accounts for -
a.  Gross Domestic Product (GDP)
b.  Gross National Product (GNP)
c.  Net National Product (NNP)
d.  National Income (NI)

2.  Which of the following is true regarding GDP of India?
a.  GDP = domestic products - foreign income in India + Indian income in foreign countries
b.  GDP = domestic products + foreign income in India - Indian income in foreign countries
c.  GDP = domestic products
d.  None of the above

3.  If foreign income in India is deducted from and Indian income in foreign countries added with GDP, then it will be -
a.  GNP of India
b.  NNP of India
c.  NI of India
d.  None of the above

4.  Which of the following is true regarding GNP of India?
a.  GNP = GDP - foreign income in India + Indian income in foreign countries
b.  GNP = GDP + foreign income in India - Indian income in foreign countries
c.  GNP = GDP
d.  None of the above

5.  If the depreciation component is deducted from the Gross National Product (GNP), then it will be -
a.  GDP
b.  NI
c.  NNP
d.  None of the above

6.  Which of the following relation is true between GNP and NNP?
a.  NNP = GNP - depreciation
b.  NNP = GNP + depreciation
c.  NNP = GNP
d.  None of the above

7.  Which of the following is to be deducted from and added to NNP, respectively, to determine National Income?
a.  subsidies, indirect taxes
b.  indirect taxes, subsidies
c.  direct taxes, subsidies
d.  subsidies, direct taxes




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