Economics - Circular flow of Income

Which of the following is a phase of Circular flow?

• Generation phase

• Distribution phase

• Disposition phase

• All of these

Which of the following is not an example of flow variable?

• Number of births during a year

• National wealth

• National income

• wheat produced during a year

Which of the following is not considered a factor income?

• rent

• wages

• gifts from abroad

• profit

Two sector economy consists of:

• households, firms

• firms, foreign sector

• households, government

• firms, government

Stock variable is defined as a variable which is:

• measured over a period of time

• measured at a particular point of time

• cannot be measured

• None of these

Real flow is also known as:

• nominal flow

• physical flow

• money flow

• both nominal and physical flow

Which of the following is the consumption sector?

• households

• firms

• foreign

• government

Money flow involves exchange of:

• goods and services

• gifts

• money

• none of these

Real flow refers to the flow of factor services from ....... to........ .

• firms to households

• households to firms

• firms to government

• household to government

In a closed economy, ........................... is not included?

• households

• firms

• government

• Foreign sector