National Income Measurement Quiz

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Questions and Answers

What is Gross National Product (GNP)?

Total money income received by individuals and households of a country from all possible sources before direct taxes
Total value of output of goods and services produced by the factors of production within the geographical boundaries of the country
Total value of goods and services produced by the factors of production within the geographical boundaries of the country
Total value of goods and services produced and income received in a year by domestic residents of a country, including profits earned from capital invested abroad (correct)

What is Net Domestic Product (NDP)?

Obtained from the Gross Domestic Product by deducting the quantum of tear and wear expenses (depreciation) (correct)
Total value of output of goods and services produced by the factors of production within the geographical boundaries of the country
Total money income received by individuals and households of a country from all possible sources before direct taxes
Total value of goods and services produced and income received in a year by domestic residents of a country, including profits earned from capital invested abroad

How is Net National Product (NNP) calculated?

$NNP = GDP - Depreciation$
$NNP = GNP - Depreciation$ (correct)
$NNP = GDP + Depreciation$
$NNP = GNP + Depreciation$

What does Per Capita Income (PCI) indicate?

<p>Indicator to show the living standard of people in a country, obtained by dividing the National Income by the population (B)</p> Signup and view all the answers

What is Personal Income (PI)?

<p>Total money income received by individuals and households of a country from all possible sources before direct taxes (C)</p> Signup and view all the answers