GDP and Net National Product (NNP) Online Test

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GDP and Net National Product (NNP)

Description: This quiz covers the concepts and calculations related to Gross Domestic Product (GDP) and Net National Product (NNP) in the context of Indian Economics.
Number of Questions: 15
Created by: Aliensbrain Bot
Tags: gdp nnp indian economics

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What is the primary measure of the economic activity and output of a country?

Gross Domestic Product (GDP)
Net National Product (NNP)
Gross National Product (GNP)
National Income

Which of the following is NOT a component of GDP?

Consumption
Investment
Government spending
Net exports

What is the difference between GDP and NNP?

GDP includes depreciation while NNP does not
NNP includes depreciation while GDP does not
GDP includes net factor income from abroad while NNP does not
NNP includes net factor income from abroad while GDP does not

NNP at market prices is also known as:

GDP at market prices
GDP at factor cost
NNP at factor cost
None of the above

Which of the following is NOT a method for calculating GDP?

Production approach
Income approach
Expenditure approach
Value-added approach

The production approach to calculating GDP involves:

Adding up the value of all goods and services produced in a country
Adding up the incomes of all individuals and businesses in a country
Adding up the expenditures of all individuals and businesses in a country
None of the above

The income approach to calculating GDP involves:

Adding up the value of all goods and services produced in a country
Adding up the incomes of all individuals and businesses in a country
Adding up the expenditures of all individuals and businesses in a country
None of the above

The expenditure approach to calculating GDP involves:

Adding up the value of all goods and services produced in a country
Adding up the incomes of all individuals and businesses in a country
Adding up the expenditures of all individuals and businesses in a country
None of the above

Which of the following is NOT a component of NNP?

Consumption
Investment
Government spending
Net exports

What is the relationship between GDP and NNP?

GDP = NNP + Depreciation
GDP = NNP - Depreciation
GDP = NNP + Net factor income from abroad
GDP = NNP - Net factor income from abroad

Which of the following is NOT a factor that can affect GDP?

Changes in government policies
Changes in consumer spending
Changes in investment
Changes in technology

Which of the following is NOT a factor that can affect NNP?

Changes in government policies
Changes in consumer spending
Changes in investment
Changes in the price level

Which of the following is NOT a component of national income?

Compensation of employees
Proprietor's income
Rental income of persons
Corporate profits

Which of the following is NOT a component of personal income?

Compensation of employees
Proprietor's income
Rental income of persons
Interest income

Which of the following is NOT a component of disposable personal income?

Personal income
Personal taxes
Personal saving
Personal consumption expenditures

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