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Questions and Answers
Which organization calculates the national income in India?
Which organization calculates the national income in India?
- United Nations
- Central Statistical Organization (correct)
- World Bank
- International Monetary Fund
What is the purpose of national income?
What is the purpose of national income?
- To maximize the national welfare of the people (correct)
- To calculate GDP growth rate
- To measure the inflation rate
- To determine the poverty rate
How is national income defined?
How is national income defined?
- The total value of all goods and services imported by a country in a year
- The total value of all goods and services produced by a country in a year (correct)
- The total value of all goods and services exported by a country in a year
- The total value of all goods and services consumed by a country in a year
What does national income provide a basis for?
What does national income provide a basis for?
Flashcards
Central Statistical Organization
Central Statistical Organization
Calculates the national income in India.
Purpose of national income
Purpose of national income
To maximize the overall well-being and prosperity of the nation's population.
National income
National income
The monetary value of all final goods and services produced within a country's borders during a specific period, typically one year.
National income: basis for
National income: basis for
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Study Notes
National Income in India
- The Central Statistical Organisation (CSO) calculates the national income in India.
Purpose of National Income
- The purpose of national income is to measure the total value of goods and services produced within an economy during a specific period of time.
Definition of National Income
- National income is defined as the total value of all final goods and services produced within an economy during a specific period of time, usually a year.
Significance of National Income
- National income provides a basis for measuring the performance of an economy, calculating the gross domestic product (GDP), and determining the per capita income.
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