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The sum total of incomes received for the services of labour, land or capital in a country is called: (a) Gross domestic product (b) National income (c) Gross domestic income (d) Gross national income
While determining income the expenditure on which of the following items is not considered as investment? (a) Construction of factory (b) Computer (c) Increase in the stock of unsold articles (d) Stock and share in joint stock company
In calculating National Income which of the following is included? (a) Services of housewives (b) Pensions (c) Income of smugglers (d) Income of watchmen
In a Laissez-faire economy (a) the customers take all the decision regarding production of all the commodities (b) the Government does not interfere in the free functioning of demand and supply forces in the market (c) the private-sector takes all the decisions for price-determination of various commodities produced (d) the Government controls the allocation of all the factors of production
In a Laissez-faire economy (a) the customers take all the decision regarding production of all the commodities (b) the Government does not interfere in the free functioning of demand and supply forces in the market (c) the private-sector takes all the decisions for price-determination of various commodities produced (d) the Government controls the allocation of all the factors of production
In calculating National Income which of the following is included? (a) Services of housewives (b) Pensions (c) Income of smugglers (d) Income of watchmen
Which among the following statements is not true when there is an increase in interest rate in an economy? (a) increase in saving (b) decrease in loan (c) increase in production cost (d) increase in capital return
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Comments
(a) Consumption
(b) Investment
(c) Government expenditure
(d) Income
(a) Gross domestic product
(b) National income
(c) Gross domestic income
(d) Gross national income
(a) Adam Smith
(b) J. B. Say
(c) T. R. Malthus
(d) David Recardo
(a) Construction of factory
(b) Computer
(c) Increase in the stock of unsold articles
(d) Stock and share in joint stock company
(a) Services of housewives
(b) Pensions
(c) Income of smugglers
(d) Income of watchmen
(a) the customers take all the decision regarding production of all the commodities
(b) the Government does not interfere in the free functioning of demand and supply forces in the market
(c) the private-sector takes all the decisions for price-determination of various commodities produced
(d) the Government controls the allocation of all the factors of production