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Questions and Answers
Which of the following is a key characteristic of national income?
Which of the following is a key characteristic of national income?
- It is a measure of economic welfare
- It is compiled and published by the Central Statistical Organisation every year
- It is only expressed in terms of money (correct)
- It includes all economic activities except consumption
What is the national income of a country?
What is the national income of a country?
- The total income of the banks and financial institutions in the country
- The total income of all the firms and factories in the country
- The total income of the people in the country (correct)
- The total income of the government in the country
What does the National Income Committee (NIC) in India do?
What does the National Income Committee (NIC) in India do?
- It determines the flow of goods and services produce
- It establishes the national economy
- It regulates the banks and financial institutions
- It compiles and publishes data on national income and allied aggregates every year (correct)
What does national income measure in real terms?
What does national income measure in real terms?
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When did the establishment of the National Income Committee (NIC) in India begin?
When did the establishment of the National Income Committee (NIC) in India begin?
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