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Worksheetscircular flow of income
Total questions: 31
Worksheet time: 16mins
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
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
Losses are classified as:
stock variable
flow variable
either stock or flow
neither stock nor flow
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
Which of the following is not a flow?
Capital
Income
Investment
Depreciation
Which of the following is not a flow?
Capital
Income
Investment
Depreciation
which of the following is a stock?
wealth
saving
exports
profits
Which of the following diagram represents real flow?
Circular flow of income is correctly represented in the diagram:
Transfer payments refer to payments, which are made:
Without any exchange of goods and services
To workers on transfer from one job to another
As compensation to employees
None
A person or an institution who normally resides in country and whose economic interest lies in that country is known as:
Normal Resident of a country
Non- resident of a country
Both (a) and (b)
None of these.
Which of the following is not in intermediate goods for a farmer?
Seeds
Fertilizers
Tractor
All of these.
Which of the following is not a normal resident of a country?
An Indian working in WHO situated in India.
An American tourist in India.
An Indian working in American Embassy
A branch of WHO in India.
Which of the following is a final expenditure?
Computer purchased by a school.
Scooter purchased by a dealer.
Vegetable purchased by a restaurant.
Milk purchased by a tea-maker.
A payment made periodically to a landlord for the use of property for a specific period of time is called:
Rent
Profit
Interest
Royalty
Income earned through entrepreneurship is called:
Profit
Loss
Operating Surplus
Royalty
Which of the following is an example of macroeconomics?
Saving of an individual
Consumption of a household
Price level of a firm
Aggregate demand of an economy
Intermediate goods are those goods:
Which have yet not crossed the boundary line of production.
Which are purchased by one firm from the other firm for resale.
Which are not included in the estimation of National Product.
All of these.
Which of the following is intermediate product?
Pulses purchased by consumers
Machine purchased by a firm
Wheat used by flour mill
Wheat used by household.
Income earned within the economic territory of a country is called
GDP
GNP
NNDI
Private Income
Which of the followings is a final good?
Raw materials used by a firm
Tea brewing machine purchased by a restaurant
Car purchased by a car dealer
An Apartment purchased for resale
Japanese embassy in India is a part of domestic territory of (a)
Transfer income is:
One side payment.
Factor payment.
Factor income.
Mixed Income
