Question : Which of the following statements are true?
- National income at constant prices also known as real national income.
- National income rise is also known as nominal national income.
- National income at current price is affected by change in both price and quantity.
- National income at constant price is effected by change in price only.
Option 1: 1,2&3
Option 2: 2,3&4
Option 3: 1,3&4
Option 4: 1,2,3&4
Answer (1)
20th Jan, 2024
Correct Answer:
1,2&3
Solution :
National income at constant prices also known as real national income.
National income rise is also known as nominal national income.
National income at current price is affected by change in both price and quantity.
National income at constant prices affected by change in quantity only.
Hence, Option A is correct.
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