Which of the following is not a component of operating surplus?
Ans – (d) Explanation:- Operating Surplus = Rent + Royalty + Interest + profit
Commerce School
Student Community
Archives Answers
Answer
If economic subsidies are added to and indirect taxes are subtracted from the national income at market prices, then it will be equal to:
Ans – (b) Explanation:- National Income at Market Price – Net indirect taxes (indirect taxes – Subsidies) National Income at Factor cost = National Income at Market Price + Subsidies – indirect taxes We would still get National Income but…
Fill in the blank: NNP at FC _______ = GDP at MP
Ans – (c) Explanation:- GDP at MP = NNP at FC + Depreciation – net factor income from abroad + Net indirect taxes
If factor income received from abroad is equal to factor income paid abroad, then which of the following is not a valid statement?
Ans – (c) Explanation:- When factor income received from abroad is equal to factor income paid abroad. The NFIA is zero Net Factor income from abroad = Factor income from abroad – Factor income to abroad Net Factor income from…
Out of the following, which aggregate represents National Income?
Ans – (c) National Income = NNP at FC (Net National Product at Factor Cost) Here, the Product represents the Income
Statement 1: GNP at MP includes goods and services produced by all units located within the domestic territory irrespective of fact whether produced by residents or non-residents.
Ans – (b) Statement 1 is false Reason:- GNP at MP includes goods and services produced only by residents within or outside the domestic territory of a country. Statement 2 is false Reason:- GNP at MP can be equal to…
Statement 1: Domestic Income considers all producers who are normal residents of the country.
Ans – (d) Statement 1 is false Domestic Income considers all producers who are normal residents and non-residents of the country. Statement 2 is true Domestic income only includes the value of goods and services produced within the domestic territory…
Statement 1: Gross Domestic Product at Market Price is a territorial concept
Answer – (c) Statement 1 is true as Gross Domestic Product at Market Price is a territorial concept Reason:- Gross Domestic Product is the sum of the value of goods and services produced within the domestic territory of a country…
Statement 1: NDP at FC is also known as Domestic Income
Ans – (a) Statement 1 is true NDP at Fc (Net Domestic Product at Factor Cost) is also known as Domestic Income. Statement 2 is true as NDP at FC is less than NNP at FC when net factor income…
Assertion (A): National Income is a national concept.
Ans – (a) Assertion (A) is true as National Income is a national concept Reason (R) is also true as national income includes value of final goods and services produced in the entire world by all producers who are normal…