National Income

National Income

University

20 Qs

quiz-placeholder

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National Income

National Income

Assessment

Quiz

Other

University

Hard

Created by

Deepali Saluja

Used 1+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is National Income?

The total revenue collected by the government

The total value of goods and services produced by a country

The total wealth of individuals in a country

The total imports and exports of a country

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a component of National Income?

Gross Domestic Product (GDP)

Net National Product (NNP)

Personal Income

All of the above

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does Net National Product (NNP) measure?

The value of all goods and services produced within a country

Gross National Product (GNP) minus depreciation

Total savings in an economy

The balance of trade

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which sector contributes most to the National Income in developing countries?

Industry

Services

Mining

Agriculture

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the difference between GDP and GNP?
a)

c)
d)

GDP includes foreign income, while GNP excludes it

GNP includes foreign income earned by nationals, while GDP excludes it

GDP measures income, while GNP measures wealth

GDP measures total output, while GNP measures exports

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following Expenditure method

Income method

Production method

Expenditure method

All of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is considered in the production method of National Income calculation?
a)
b)
c)
d)
Answer: c

The total income of citizens

The total expenditure on goods and services

The value of final goods and services produced in an economy

The exports of a country

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