Question # 1

Direct taxes are not included in

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DPI

PI

NNP

a and c above

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

It is avoided to make correct estimate of national income.

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Free services

Double counting

Export earnings

All of the above

In economics one of more persons living in a joint family are called a

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Community

Social gathering

Super family

Household

If C= 200 and I= 40 Than Y will equal

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160

240

200

8000

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

GNP is always.

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Less than NNP

Grether than NNP

Equal to NNP

Is found from NNP

Govt. transfer payment include

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Social security benefits

Welfare benefits

Student scholarships

All of the above

The largest part of national income goes to

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Consumption

Investment

Saving

Transfer payment

In erms of national income accounts, multiple counting efers to.

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The addition to GNP of multiple units of a good

Counting cureently producedgoods more than once

The inclusion in GNP of gross spending and taxes

Counting both goods and services

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

It is considered as investment

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Construction of a house

Purchase of an old house

Salaries of college professors

a and b above

It is considred as transfer payments

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Salaries of govet emplyees

Bonus of bank employees

Inemployment allowance paid by govt

Free medical are to offers.

GNP includes

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A Loan from a bank

A loan from one's parents

A brokers commission

Gilfts and donations

Transfer payments means.

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Bank loans

The payment without work

Payments made to all factors of production

Tax payments

It would increase the lvel of national income.

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An increase in taxation

A reduction in governmnet spending

An increase in exports

Students scholarships

Whis is the largest figure

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NNP

GNP

DPI

PI

We measure natonalincome by this method.

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Expenditure method

Income method

Product method

As of the above

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