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National Income and Related Aggregates Test - 2

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National Income and Related Aggregates Test - 2
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  • Question 1
    1 / -0

    In final goods

    Solution

    Final goods are not for resale and do not involve double counting.

     

  • Question 2
    1 / -0

    Real flow is the flow of

    Solution

    'Real 'in economics often pertains to goods and services whereas 'nominal' pertains to money. 

     

  • Question 3
    1 / -0

    water in a stream is a

    Solution

    It's dynamic. 

     

  • Question 4
    1 / -0

    Explain the meaning of non-market activities

    Solution

    Those activities not determined by market forces

     

  • Question 5
    1 / -0

    Which of the following is a component of Net factor income from abroad is

    Solution

    Net compensation for employees is a pre-tax wage paid often before accounting year and wage is a factor income . 

     

  • Question 6
    1 / -0

    An example of semi durable goods is

    Solution

    Crockery is neither perishable nor lasting. 

     

  • Question 7
    1 / -0

    Stock is a

    Solution

    Stocks do not pertain to changes like flows do.

     

  • Question 8
    1 / -0

    An example of factor payments is

    Solution

    Employers' contribution for social security is considered as wages. 

     

  • Question 9
    1 / -0

    An example of non durable goods is

    Solution

    It's over once used by a consumer. 

     

  • Question 10
    1 / -0

    Can the change in inventories be in positive?

    Solution

    If current period's ending inventory is greater than  last Period's ending inventory 

     

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