Remunaration given for the contribution made by human labour is called ___________.
Profit
Rent
Wages
None of these
In a two sector model ,all goods and services produced by firms ,are bought by the ______________.
Government
Households
Foreign countries
National income is always measured in terms of ___________.
Money
services
Goods
___________ is given for the contribution made by capital .
Interest
In __________ method GDP is measured from the demand side of the products.
Product
Expenditure
Income
The loss in the value of capital goods over a period of time due to the normal physical wear and tear of capital goods in the process of production is called ____________.
Depression
Devaluation
Depreciation
In the two sector model diagram the upper part represents _____________.
Product market
Factor market
Service market
All goods and services used by the producers as inputs into a further stage of production are called ____________.
Final goods
Intermediate goods
Consumption goods
What are the importance of national income analysis ?
Helps to compare economic development over time
Helps to make international comparison
Helps to measure the standard of living of the people of different countries at different periods
All the above
NNPat market price – Net indirect taxes = ____________.
Personal income
GNP at factor cost
NNP at factor cost
