NNP at FC is also known as __________ Income.
Answer:- NNP at FC is also known as National Income. In Short Net National Product at Factor Cost (NNP at FC) is known in short as National Income.
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Net domestic product at factor cost is more than national income when net factor income from abroad is _______.
Answer:- Net domestic product at factor cost is more than national income when net factor income from abroad is Negative. Explanation:- National Income = Net Domestic Product at Factor Cost + Net Factor income from abroad. But When Net Factor…
GNP at MP ________ NNP at MP and NNP at FC are four National concepts
Answer:- GNP at MP, GNP at FC NNP at MP and NNP at FC are four National concepts.
Statement 1: A person can be a citizen of one country and at the same time a resident of another country
Ans – (c) Statement 1: it’s true a person can be a citizen of one country and at the same a resident of another country. An American citizen living earning and spending in India is a resident of India but…
Statement 1: Net factor income from abroad is positive when income earned from abroad is less than income paid to abroad
Ans – (b) Statement 1: It’s false, net factor income from abroad is positive when income earned from abroad is more than the income paid to abroad. Statement 2: It’s false Net factor income from abroad is zero in a…
Statement 1: Intermediate goods are included in National income but not in Domestic Income
Ans – (d) Statement 1: It’s false, Intermediate goods are not included in national income and domestic income. Statement 2: It’s true, intermediate goods are used in the same year to produce final goods.
Statement 1: Factor income is a Bilateral Income
Ans – (c) Explanation:- Statement 1: It’s true,Factor income is a Bilateral (two-sided) Income as it is received in return for factor (productive) services. Statement 2: It’s false, Factor income refers to income received against rendering any productive services in…
Statement 1: Normal residents include both, individuals and institutions
Ans – (a) Explanation:- Statement 1 is true, normal residents include both, individuals and institutions. Statement 2 is also true, International organisations are treated as normal residents of the international area
Statement 1: For the purpose of national income accounting, domestic territory just means the political frontiers of a country
Ans – (d) Statement 1: It’s False, for the purpose of national income accounting, domestic territory does not mean the political frontiers of a country. domestic territory is different from the political frontier. Statement 2: It’s True, The Indian Embassy…
Assertion (A): Depreciation is also termed as Consumption of Fixed Capital
Ans – (a) Explanation:- Assertion (A): It’s true, depreciation is also termed as consumption of fixed capital. Reason (R): It’s true, that depreciation refers to the value of fixed capital which is used up in the process of production. Reason…