Question # 1

------------------- are added in national income

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Depreciation allowance

Subsidies

Indirect taxes

Direct taxes

Expenses of wears and tears of machinery are called

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Productive expenses

Non productive expenses

Wages

Depreciation expenses

Gross national product means

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Total of price of all goods produced in a country in year

Total of price of all consumer goods produced in the economy during a year

Total of goods and services produced in the economy during a year

Total of monetary value of goods and services produced during a year in the economy

national income is found by

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Subtracting depreciation allowance from gross national product

Subtracting indirect taxes from net national product

Adding subsidies in net national product

Subtracting indirect taxes and adding subsidies in net national product

Expenditures of repair of machines are called

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Unproductive expenditures

Productive expenditures

Rewards

Depreciation allowance

Monopoly refers to:

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Single buyer

Single seller

Single producer

Both b and c

If we subtract direct taxes from personal income, we get

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Net national income

Net domestic income

Disposable personal income

Personal savings

Main elements of circular flow of national income are

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People or house holds

Firms

House holds and firms

Industrial lists

------------ is not included in gross domestic product

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Private investment

Income received from foreign country

Depreciation allowance

Govt. investment

Method of measuring national income

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National income=Gross national product - depreciation allowance

National income= Net national product - Indirect costs

National income= Net national product + subsidies

National income= Net national product - indirect taxes + subsidies

Price discrimination policy refers to:

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Single price

Two prices

Multiple prices

None of these

Difference between total revenue and total cost presents:

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Price

Profit

Production

Loss

After subtracting depreciation allowance from gross national product is known

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National income

Net national product

Personal income

Gross domestic product

The term "Price Maker" is used in:

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Perfect competition

Oliogopoly

Monopoly

Monopsony

Transfer payments are included in

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Gross domestic income

National income

Disposable personal income

Personal income

Which is subtracted from gross national product to find gross domestic product

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Depreciation allowance

Net income received from foreign sources

Indirect taxes

Transfer payments

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