Question # 1

National Income = Ntional Expenditure is an

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Equation

Identity

Function

None

Whis is the largest figure

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NNP

GNP

DPI

PI

To determine the correct level of GNP ,it is necessary to.

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Add up the values of goods and services during one year

Add up allsavings

Count all imports

Add up the value of semi finished goods

Transfer payments means

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Bank loans

The payment without work

Tax payments

Payments made to all factors of production

Consumption spending does NOT include.

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Household's purchases of clothes

Household's purchase of a car

Household's paymnet of rent for an apartment

Household's purchase of shares of a business corporation

If govermment increases taxes pivate savings.

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Increase

Decrease

Do not change

Will become zero

When National income is estimated by expenditue method we include.

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All govt expenditure

All houseolds expenditure

All of the above

All expenditure of the business sector

Gross nationa product includes

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A loan from one's parents

A loan from a domestic bank

A loan from other countries

None of theabove

Per capita Incom is.

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Income per worker

Incomeper hea

Income per household

Income per industrial unit

Country is poor if it has.

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Less production of gods per capita

Less amount of gold

Less amout of foreign currency

Less exports

If we include it. national income will be over estimated

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Transfer payment

Income from abroad

Illegal income

Exports

Which statment is true

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National Income = Naional expenditure - indirettaxes

N1 =GNP -NNP

N1 =P1

NI =NNP-Indirect taxes

Net Exports are

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Total Exports plus total imports

Total exports minus total imports

Total exports divided by total imports

Total imports minus total exports

Which statment is true

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NNP =GNP- Deprection

NNP =N1

NNP = DPI

NNP = GNP + Depreciation

The four factor payments are.

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Money, Capital, salaries, and income

Wages, rent internest and profts

Money, power, Prices, and wwalth

Wags, intrest, salareis,andtaxes.

Personal income includes.

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Direct taxes

Indirect taxes

Depreciation

None of the above

Which of the followign is not included in personali income

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Social security benefits

Dividend payments

Undistributed corporate profits

Interest received from of saving certificates

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