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carbon & its compounds Q.2) Domestic product can be distinguishes from the national product by the treatment of Net income from abroad. 0000006049 00000 n
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Tags: Question 2 .
Step-by-step solution: …
National income accounting is important so that the country can tell how much it is spending, relative to what it is earning.
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National Income Questions and Answers Q.8) Gross National product at market price is the money value of all final services produced in a year within the domestic territory of a country. 0000014381 00000 n
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National Income is the sum total (monetary value) of all the goods and services produced in the country in a given financial year. 0000029979 00000 n
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provide macroeconomists with much of the data needed for macroeconomic analysis, research, and forecasting.According to the fundamental identity of national income accounting, total production = total income = total expenditure.Capital goods are produced in one year and final goods are produced over a period of more than one year.Capital goods are not final goods, because they are used up in the same period in which they are produced.Final goods are produced in the same year as the related final good, whereas capital goods are produced in different years.Mobin and Mona just bought their new house. economics questions and answers multiple choice on topic of national income for interview, entry test and competitive examination freely available to download for pdf export Q.2) Domestic product can be distinguishes from the national product by the treatment of Net income from abroad.Q.3) Net factor income from abroad is the income earned byQ.4) Depreciation is fall in value of fixed assets due to normal wear and tear and expected obsolescence. 0000022775 00000 n
Is this information sufficient?Q.5) Why are exports included in the estimation of domestic product by the expenditure method? 0000031104 00000 n
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National Income Accounting Important Questions for class 12 economics National Income and Its Related Concepts. 0000014180 00000 n