Question : ____________________ is the money value of final goods and services produced by normal resident of a country in an year, measured at the prices of current year.
Option 1: National income at current price
Option 2: National income at constant price
Option 3: Real national income
Option 4: All of the above
Correct Answer: National income at current price
Solution : National income at current price measures the prices of the current year. It is also known as nominal national income. Hence option A is correct
Question : ___________________ is the money value of final goods and services produced by the nominal resident of a country in a year, measured at this year‘s price.
Question : ______________- shows the change in price levels between two different time periods.
Question : _____________ is used for comparing the national income of different years.
Question : ______________ refers to production of goods and services valued at current price.
Question : Which of the following statements are true?
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