Q. GNP at market price is measured as: GDP at market price – DepreciationGDP at market price + Net factor income from abroadGNP at market price + subsidiesNDP at factor cost + Net factor income from abroad Answer: GDP at market price + Net factor income from abroad

Q. The difference between national income and domestic income is that of: net indirect taxesnet factor income from abroadconsumption of fixed capitalboth a) and b) Answer: net factor income from abroad

Q. Which of the following is an example of normal residents of India? Foreign worker working in WHO located in IndiaThe german working as a director in IMF office located in IndiaAmbassador in India from rest of the worldAmbassador of India in rest of the world Answer: Ambassador of India in ...

Q. Which one leads to factor cot? Market price – Indirect taxesMarket price – Net indirect taxesMarket price + Indirect taxesMarket price + Net indirect taxes Answer: Market price – Net indirect taxes

Q. Which one includes depreciation? GNP at market priceNNP at market priceNNP at factor costNone of these Answer: GNP at market price

Q. Basis of the difference between the concepts of market price and factor cost is: direct taxesindirect taxessubsidiesNet indirect taxes Answer: Net indirect taxes

Q. Net indirect taxes are estimated as: Indirect taxes + SubsidiesSubsidies – Indirect taxesIndirect taxes – Subsidiesboth b) and c) Answer: Indirect taxes – Subsidies

Q. Domestic product is equal to National product + Net factor income from abroadNational product – Net factor income from abroadNational product / Net factor income from abroadNational Product * Net factor income from abroad Answer: National product – Net factor income from abroad

Q. Reason for the circular flow of income is: government interventionproduction of goods and servicesmutual interdependence of producer and household sectorinvention of money Answer: mutual interdependence of producer and household sector

Q. The market price of the final goods and services (including depreciation) produced within the domestic territory of a country during an accounting year, is called: GDP at market priceGNP at market priceGDP at factor costGNP at factor cost Answer: GDP at market price