Social Accounting Quiz

Who introduced the term 'social accounting' into economics?

• J.R. Hicks

• Edey, Peacock and Cooper

• J.R. Hicks and Edey, Peacock and Cooper

• None of the above

What is another name for social accounting?

• National income accounting

• Private accounting

• Economic accounting

• Social economics

What is the purpose of social accounting?

• To understand the economic conditions of the economy

• To regulate the economy

• To influence state policy

• All of the above

What does social accounting describe statistically?

• The economic activities of different sectors

• The economic conditions of the economy

• The inter-relationships between sectors

• All of the above

What are the components of social accounting?

• Production, consumption, capital accumulation, government transactions, and transactions with the rest of the world

• Income, expenditure, saving, investment, and consumption

• Gross national product, gross domestic product, net exports, government spending, and private investment

• Imports, exports, taxes, subsidies, and transfer payments

Which sector does the production account relate to?

• Business sector

• Household sector

• Government sector

• Foreign sector

What does the consumption account refer to?

• Income and expenditure of the business sector

• Income and expenditure of the government sector

• Income and expenditure of the household sector

• Income and expenditure of the foreign sector

Which sector does the government account relate to?

• Business sector

• Household sector

• Government sector

• Foreign sector

What does the capital account show?

• Saving equals domestic and foreign investment

• The flow of capital goods and net change in inventories

• The transactions of the country with the rest of the world

• The income and expenditure of the government sector

What does the foreign account show?

• The transactions of the country with the rest of the world

• The income and expenditure of the foreign sector

• The income and expenditure of the government sector

• The flow of capital goods and net change in inventories