Basic Concepts of Macro Economics

Which of the following is an example of transfer income

• Bonus

• Unemployment allowance

• Compensation of employees

• All of above

Which of the following will be included in national income of India

• Old age pension

• Subsidies

• Scholarship

• Salaries

Domestic income of India is the income earned (a)   of India

Which of the following is a phase of circular flow of income

• Generation phase

• Distribution phase

• Disposition phase

• All of these

which of these is semi durable good

• radio

• milk

• clothes

• petrol

Real flow is also known as

• Nominal flow

• Physical flow

• Money flow

• Both a and b

The concept of normal residents applies to

• Individuals only

• Institutions only

• Both

• None of them

Which of the following is not considered a factor income

• Rent

• Wages

• Gifts from abroad

• Profit

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

• Household

• Firms

• Government

• Foreign sector

Which of the following is stock

• Wealth

• Savings

• Exports

• Profits