National Income


Increase in absolute and per capita real GNP do not connote a higher level of economic development, if

  1. industrial output fails to keep pace with agricultural output.
  2. agricultural output fails to keep pace with industrial output.
  3. poverty and unemployment increase.
  4. imports grow faster than exports.
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The value of all final goods and services produced by the normal residents of a country and their property, whether operating within the domestic territory of the country or outside in a year is termed as

  1. Net National Income
  2. Net Domestic Product
  3. Gross National Income
  4. Gross Domestic Product
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The Gini Coefficient is a measure of

  1. Rodent population
  2. Migration rate of Guineas nationals
  3. Income inequality
  4. Ratio of coinage to currency note
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The national income of a country for a given period is equal to the

  1. money value of final goods and services produced
  2. sum of total consumption and investment expenditure
  3. sum of personal income of all individuals
  4. total value of goods and services produced by the nationals
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A decrease in tax to GDP ratio of a country indicates which of the following?

  1. Slowing economic growth rate
  2. Less equitable distribution of national income

Select the correct answer using the code given below.

  1. 1 only 
  2. 2 only 
  3. Both 1 and 2
  4. Neither 1 nor 2
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