Net national product at market price is the market value of the output of final goods and services produced at current price in one year of a country. If we subtract the depreciation charges from the gross national product, we get net national product at market price. Net national product at market price=Gross national product at market price-Depreciation.

Correct Option: C

Net national product at market price is the market value of the output of final goods and services produced at current price in one year of a country. If we subtract the depreciation charges from the gross national product, we get net national product at market price. Net national product at market price=Gross national product at market price-Depreciation.

Liquidity preference refers to the demand for money, considered as liquidity. The concept was first developed by John Maynard Keynes in his book The General Theory of Employment, Interest and Money (1936). It is the desire to hold money rather than other assets, in Keynesian theory based on motives of transactions, precaution, and speculation.

Correct Option: B

Liquidity preference refers to the demand for money, considered as liquidity. The concept was first developed by John Maynard Keynes in his book The General Theory of Employment, Interest and Money (1936). It is the desire to hold money rather than other assets, in Keynesian theory based on motives of transactions, precaution, and speculation.

According to Keynes, money is demanded because of three motives -transaction, precau-tionary and speculative. The first two motives provide yield of convenience and certainty. The third motive provides money yield. Keynes has termed demand for money as liquidity preference.

Correct Option: C

According to Keynes, money is demanded because of three motives -transaction, precau-tionary and speculative. The first two motives provide yield of convenience and certainty. The third motive provides money yield. Keynes has termed demand for money as liquidity preference.

In developed countries, the labor productivity of any commercial agriculture is high, so only a very small percentage of the population is involved with agriculture even when agriculture is a major industry and export. These countries focus more on manufacturing and service industry. Agriculture or the primary sectors of the economy have sizeable contributions in the GDP of developing nations.

Correct Option: B

In developed countries, the labor productivity of any commercial agriculture is high, so only a very small percentage of the population is involved with agriculture even when agriculture is a major industry and export. These countries focus more on manufacturing and service industry. Agriculture or the primary sectors of the economy have sizeable contributions in the GDP of developing nations.

National Income Accounting is a set of principles and methods used to measure the income and production of a country. There are basically two ways of measuring national economic activity: as the money value of the total production of goods and services during a given period (usually a year) or as the total of incomes derived from economic activity after allowance has been made for capital consumption.

Correct Option: C

National Income Accounting is a set of principles and methods used to measure the income and production of a country. There are basically two ways of measuring national economic activity: as the money value of the total production of goods and services during a given period (usually a year) or as the total of incomes derived from economic activity after allowance has been made for capital consumption.