Measures of National Income – 1

Welcome to your Measures of National Income - 1

Who of the following constitute "Normal Residents" for the calculation of Gross National Income in India? 1. Indians employed in the foreign embassies based in India. 2. Foreigners employed in the Indian embassies based in other countries. 3. Certain categories of foreigners living in India for more than a certain period. Select the correct answer using the code given below:

Which of the following best describes the concept of "Domestic Income" of a country?

Which of the following economic activities is/are included in the calculation of the Gross Domestic Product (GDP)? 1. A Chinese company manufacturing mobiles in India. 2. An American company, based in India, exporting software services. 3. An Indian airlines company offering international flights. 4. The income of an Indian software professional based in the USA. Select the correct answer using the code given below:

Which of the following is/are likely to be considered as final goods in an economy? 1. Shirts sold by the manufacturer to the wholesaler. 2. Tractors bought by the farmers. 3. Car purchased by the dealer for the purpose of re-sale. 4. New tyres bought by the consumers to replace the old ones. Select the correct answer using the code given below:

Which of the following best describes the concept of Producer Goods?

Which of the following is/are the features of the Capital Goods in an economy? 1. These goods may be generally bought either by the households or the manufacturers. 2. Expenditure on Capital Goods is considered as investment expenditure. 3. All the machineries are considered as Capital Goods. Select the correct answer using the code given below:

Which of the following is/are the likely effects of total injections being higher than the total leakages in the Circular Flow of National Income? 1. Increase in trade deficit 2. Increase in credit creation 3. Drastic increase in the tax-GDP ratio Select the correct answer using the code given below:

The Private Final Consumption Expenditure (PFCE) in the National Income includes the expenditure incurred by which of the following? 1. Resident households 2. Government 3. Non-profit institutions, such as the NGOs. Select the correct answer using the code given below:

Which of the following constitute Real Flows in an economy? 1. The provision of factor services, such as land, labour and capital by the households to the producers. 2. The expenditure on the purchase of goods by the households. 3. The payment for the factor services by the producers to the households. 4. Goods produced and sold by the firms. Select the correct answer using the code given below:

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