Question : Which of the following is not a measure of national income?
Option 1: Gross Domestic Product (GDP)
Option 2: Gross National Product (GNP)
Option 3: Net Domestic Product (NDP)
Option 4: Inflation rate
Correct Answer: Inflation rate
Solution : The correct answer is d) Inflation rate.
Inflation rate is not a measure of national income. It is a measure of the rate at which the general level of prices for goods and services is rising and, therefore, reflects changes in the purchasing power of money over time. It is commonly represented as a percentage increase in a price index, such as the Consumer Price Index (CPI).
Question : Which of the following is a measure of national income that takes into account the depreciation of capital?
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