What do you mean by Trade in Services?

Q.

Which of the following statement(s) is/are correct about National Income?
1. Total value of final goods and services produced by the residents and non-residents of the country during an accounting year.
2. It is Net National Product (NNP) at Factor Cost (FC)
3. It does not include taxes, depreciation and non-factor inputs (raw materials)
Select the correct answer using the codes given below:

Q. Observe the following sets and answer the questions given below.
A = The sets of all residents in Mumbai.
B = The set of all residents in Bhopal.
C = The set of all residents in Maharastra
D = The set of all residents in India.
E = The set of all residents in Madhya-Pradesh

(i) Write the subset relation between the sets A and C.
(ii) Write the subset relation between the sets E and D.
(iii) Which set can be chosen suitably as the universal set?

Q. $E=$ The set of all the residents in Madhya-Pradesh.

Q. The subset relation between the sets $E$ and $D$ is

Q. GNP is a measure of total monetary value of all the goods and services
by the normal residents of a country within a financial year.