19. Real national income means: (a) national income at current prices (b) national income at factor prices (c) national income at constant prices (d) national income at average prices of the past 10 year 20. GDP Deflator = Real income (a) Nominalincome Nominal income (b) x 100 x 100 Realincome Realincome (c) Population x 100 (d) None of these 21. Increase in price of commodities due to increase in taxes assumes relevance in the estimation of NNP MP because: (a) taxes are compulsory payments (b) taxes are transfer payments (c) taxes are paid out of income of the households teves cause a rise in market price of the commodities which otherwise would have been sold at a lower price
19. Real national income means: (a) national income at current prices (b) national income at factor prices (c) national income at constant prices (d) national income at average prices of the past 10 year 20. GDP Deflator = Real income (a) Nominalincome Nominal income (b) x 100 x 100 Realincome Realincome (c) Population x 100 (d) None of these 21. Increase in price of commodities due to increase in taxes assumes relevance in the estimation of NNP MP because: (a) taxes are compulsory payments (b) taxes are transfer payments (c) taxes are paid out of income of the households teves cause a rise in market price of the commodities which otherwise would have been sold at a lower price
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:19. Real national income means:
(a) national income at current prices
(b) national income at factor prices
(c) national income at constant prices
(d) national income at average prices of the past 10 yean
20. GDP Deflator =
Realincome
(a)
Nominalincome
Nominalincome
(b)
x 100
x 100
Realincome
Realincome
(c)
Population
x 100
(d) None of these
21. Increase in price of commodities due to increase in taxes assumes relevance in the estimation of
NNP,
because:
MP
(a) taxes are compulsory payments
(b) taxes are transfer payments
(c) taxes are paid out of income of the households
a cause a rise in market price of the commodities which otherwise would have been sold at
a lower price
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