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NDP and NNP

National Inco...

Question

National Income = NDP at factor cost - Net factor income from abroad

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False

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True

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Q. Distinguish between:

National income at market prices and national income at factor cost

Q. Write short notes on:
1) Value added approach
2) Expenditure method of measuring national income.
3) Circular flow of national income
4) Personal disposable income
5) Net national product at factor cost

Q. Give reason or explain the following statements:

1) Income from second hand sale of goods is excluded from national income.
2) National income at factor cost includes subsidy.
3) National income estimates are accurate in India.
4) Old age pension is transfer income.
5) Paid services are included in national income.

Q. Net domestic product at factor cost is less than national income when ______________.

Q. Net export and net factor income from abroad are same while calculating national income through expenditure method

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