Q. The market value of all final goods and services produced in an economy over a year is called : Gross National ProductNational IncomeGross Domestic ProductNet National Product Answer: Gross Domestic Product

Q. Which method is adopted in measuring National Income? Production MethodIncome MethodExpenditure MethodAll of these Answer: All of these

Q. If for a country net factor income from abroad is negative then: GDP < GNPGDP > GNPGDP ≥ GNPGDP = GNP Answer: GDP > GNP

Q. What is the consumption of fixed capital called? Capital formationDepreciationInvestmentAll of these Answer: Depreciation

Q. Which one is included in National Income? Rent, Wage, InterestRent, Wage, SalaryRent, Profit, InterestRent, Wage, Salary, Interest, Profit Answer: Rent, Wage, Salary, Interest, Profit

Q. Net National Income at Factor Cost is called? National IncomeGross InvestmentDomestic IncomeNone of these Answer: National Income

Q. Depreciation expenses are included in: GNPMpNNPMpNNPFCNone of these Answer: GNPMp

Q. The market price of all final goods of a country in a year is known as: GDPMPGDPFCNNPFCNone of these Answer: GDPMP

Q. Which service is included in Tertiary Sector? MiningConstructionCommunicationAnimal Husbandry Answer: Communication

Q. The primary sector includes: AgricultureRetail tradingSmall IndustriesAll the these Answer: All the these