National Income and Its Components

The video tutorial covers the concept of national income, its benefits, factors influencing it, and its components. It explains how national income is calculated and provides an example calculation. The tutorial is aimed at class 11 economics students and helps them understand the importance of national income in comparing economies and guiding government policies.

What is national income commonly referred to as?

• National Income

• Economic Output

• National Revenue

• Gross Domestic Product

Which of the following is NOT a benefit of calculating national income?

• Understanding economic structure

• Guiding government policy

• Predicting weather patterns

• Comparing economies

How does the quality of human resources affect national income?

• It only affects GDP

• It increases national income

• It has no effect on national income

• It decreases national income

Which factor is NOT mentioned as influencing national income?

• Human resources

• Technological advancement

• Natural resources

• Capital availability

What does GDP stand for?

• Gross Domestic Product

• General Domestic Product

• Gross Development Product

• Global Domestic Product

What is the difference between GDP and GNP?

• GDP includes foreign income, GNP does not

• GNP is always higher than GDP

• GNP includes foreign income, GDP does not

• GDP and GNP are the same

What is NNP calculated from?

• GDP plus depreciation

• GNP minus depreciation

• GDP minus taxes

• GNP plus taxes

What is disposable income?

• Income before taxes

• Income after taxes

• Personal income plus savings

• Total national income

In the example calculation, what is the first step to find NNI?

• Calculate GDP

• Calculate GNP

• Subtract taxes

• Add depreciation

What is the final result of the example calculation for NNI?

• 1330 trillion

• 1420 trillion

• 1600 trillion

• 1540 trillion