Question Text
Question 1 :
The following statement is true or false? Give reasons.<br/>Final goods include only those goods which are consumed by the households. <br/>
Question 2 :
Domestic product includes contribution of only resident producers within the domestic territory of the country.
Question 3 :
Are the following statements true or false? Give reasons.<br>Goods produced for self-consumption will be included in national income. <br>
Question 4 :
Circular flow of income does not take place in case of closed economy.
Question 6 :
______ is the personal income minus personal income tax and miscellaneous payments to government.
Question 9 :
Are the following statements true or false? Give reasons.<br/>Gross domestic capital formation is always greater than gross fixed capital formation.<br/>
Question 15 :
National income of a country divided by its total population is known as______.
Question 18 : <p>National income is an income which can be measured in terms of money. This definition was given by which of the following economist ________.</p>
