Question # 1

If indirect taxes are deducted from NNP and subsidies are added. we achieve

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Personla savings

DPI

National Income

Percapita inocme

Govt. transfer payment include

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Social security benefits

Welfare benefits

Student scholarships

All of the above

A TV set purchased from a retail store is an example of.

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Final goods

Surplus goods

Capital goods

Intermediate goods

PI is equivalent to

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DPI Minus personal taxes

DIP Plus unerned receipts

DPI Minus income earned but not received

NI plus unearned receipts minus personal taxes

It is avoided to make correct estimate of national income.

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Free services

Double counting

Export earnings

All of the above

Threre are methods of measurieng natinal income

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5

4

2

3

In circular flow model

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Govt. owns productive resources

Firms own productive resources

Households own productive resorces

Rent of land is not included

Net investment is

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Gross investment minus household investment

Gross investment minus govt. investment

Gross investment minus capital consumption allowance

None of the above

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.

If we deduct direct tax from personal income we get.

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Net National income

Disposable income

Personal saving

Per capital income

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

National Income = Ntional Expenditure is an

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Equation

Identity

Function

None

Transfer payments are not included in national income becaues.

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Such payments are made to persons livnig abroad

Double counting would result

They are illegal

There is no method to account for these

Which is a flow concept.

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Number of my shirts

My montly income

My total wealth

Money Supply

Circular flow of income links

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Income expenditure

Govt taxes govt expenditure

Exports ,imports

Saving and investment

Which measure has the larger value .

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NNP

GNP

GDP

NI

Which of the following would NOT be included in GNP

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Govt. Transfer payments

Got. Purchase of an air plane

Payment for construction of highway

Salary paid for the presidents secretary

It is transfer payment

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Payment o college tuition

A social securiy payment

Payment for a leased car

Intrest paid for a bank loan

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