Top 50+ Solved National Income accounting MCQ Questions Answer
Q. The average income of a country is called
a. per capita income
b. disposable income
c. inflation rate
d. real national income
Q. The value of NNP at production point is called
a. nnp at factor cost
b. nnp at market price
c. gnp at market price
d. gnp at factor cost
Q. The value of NNP at consumer point is called the
a. nnp at factor cost
b. nnp at market price
c. gnp at market price
d. gnp at factor cost
Q. When depreciation is deducted from GNP, the net value is
a. net national product (nnp)
b. net domestic product
c. gross national product
d. disposable income
Q. Which statement is true?
a. national expenditure = national income
b. national expenditure = national income + national savings
c. national expenditure = national income + taxes
d. national expenditure = national income – taxes
Q. If we compare GDP and GNP, then:
a. gnp = gdp - net income from abroad
b. gnp = gdp + net income from abroad (r-p) ……. gdp+(r-p)
c. gnp = nnp - net income from abroad
d. gnp = nnp + net income from abroad
Q. Select the correct statement:
a. transfer payment are included in national income
b. depreciation allowance is a part of gnp
c. taxes are not included in nnp
d. gdp means gross direct production
Q. Which is the largest figure:
a. nnp
b. gnp
c. pi (disposable personal income)
d. pi (personal income)
Q. Which is a flow concept:
a. number of my shirts
b. my total wealth
c. my monthly income
d. money supply
Q. To avoid double counting when GDP is estimated, economists:
a. use gdp deflator
b. calculate value added at each stage of production
c. use retail prices
d. use price of only intermediate goods
Q. Personal income includes:
a. transfer payments
b. indirect taxes
c. depreciation
d. all of the above
Q. If savings exceed investment then:
a. national income rises
b. national income falls
c. national income is not affected
d. none of the above