CUET Economics PYQs

Arrange the following steps in calculation of national income, by income method in correct sequence.

(A) Add net factor income from abroad to arrive at national income.

(B) Estimate the factor income paid by each sector.

(C) Identify and classify the income generating units.

(D) Calculating domestic factor income.

Choose the correct answer from the options given below:

Which G.D.P. is the indicator of growth and development of a country?

Identify the correct statements about the externalities as a limitation of GDP and welfare.

A. GDP as measured does not include external production of goods.

B. Inverse relationship between negative externality and welfare.

C. No relation between GDP and welfare.

D. Economic activities have both positive and negative externalities.

E. Producers are rewarded with profit for positive externalities

Choose the correct answer from the options given below :