Which of the following is un-skilled labour?

Demand for labour is also known as:

According to the demand schedule, when wage rate decreases:

Equilibrium wage rate is determined at the point where:

Labour is an active factor of production.

Skilled labour requires no training or experience.

Supply of labour increases when wage rate increases.

Productivity of labour has no effect on demand for labour.

Dignity of labour means all jobs are equally respectable.

The person who provides labour services is called a ___________.

Labour that requires advanced study and special training is called __________ labour.

The marginal revenue product (MRP) is calculated as MR × ___________.

Supply of labour refers to the number of people willing and able to work at the prevailing ___________.

The wage rate at which quantity of labour demanded equals quantity supplied is called __________ wage rate.

In economics, rent is paid for factors that have:

Which of the following is investment according to the textbook?

Hoarding refers to:

Net interest is obtained by subtracting:

Profit is defined as:

Rent for a house increases when demand for houses is greater than supply.

Current deposit accounts usually earn high interest.

Compound interest is also called “interest on interest.”

When interest rate increases, investment also increases.

Profit motivates entrepreneurs to take risks and start businesses.

The payment received for the use of land or property is called ___________.

Saving is the difference between disposable income and ___________.

Deposits made for a fixed period that earn higher interest are called __________ deposits.

Gross interest - (risk cost + management cost) = __________ interest.

FILL IN THE BLANKS 5. Profit = Total Revenue - ___________.

Bhutan’s economy is best described as a:

Which sector contributes the most to Bhutan’s GDP?

Capital formation refers to:

Consumption + Saving equals:

Which dzongkhag has the lowest mean monthly household consumption expenditure (according to the graph)?

The economic growth of a country is measured by its _____________________.

The sector that contributes the most to Bhutan’s GDP is the ____________________ sector.

An increase in consumption expenditure leads to a ____________________ in savings.

Roads, schools and hospitals are provided mainly by the ____________________ sector.

Lowering interest rates on borrowing leads to an increase in _______________________.

Bhutan’s population growth rate between 2005 and 2017 was high compared to many countries.

Hydropower and tourism are two major sectors that Bhutan’s economy depends on.

Private sector alone can fully support the economic growth of Bhutan without public sector support.

High interest rates on savings encourage people to save more.

Economic diversification means depending on only one sector for growth.

Public finance mainly deals with:

Which of the following is a direct tax in Bhutan?

Capital expenditure includes:

Revenue from fees such as land transaction fees and birth registration fees are called:

A supplementary budget is required when:

Public finance is concerned with the income and ____________________ of the government.

Taxes paid on goods and services are called ____________________ taxes.

The government receives ____________________ from international organisations as voluntary contributions.

Spending on salaries, maintenance and routine operations is known as ____________________ expenditure.

The annual financial statement of estimated revenue and proposed expenditure is called a ____________________.

The burden of direct tax can be shifted from one person to another.

Sales tax and import duty are examples of indirect taxes.

Borrowing is a source of government revenue when there is a gap between revenue and expenditure.

Capital expenditure is spent regularly every year for daily functioning of the government.

Budget helps ensure transparency and accountability in government spending.

Goods that can be seen and touched are called:

Public goods are:

National product includes income earned by:

An economic indicator is a:

Who are the consumers in an economy?

The flow of goods and services between households and firms is called:

Economic growth in the short run is measured by the increase in:

Goods that are produced using scarce resources and have a price are called __________ goods.

The income received by households for providing factor services is called __________.

Intermediate goods are also known as __________ goods.

When savings equal investment, the circular flow of income is in __________.

Economic development focuses on improving people's __________ of life.

Services are tangible items that can be touched.

Private goods must be purchased to be consumed.

Domestic product only includes income earned by Bhutanese citizens living abroad.

Public goods can be consumed by many people without reducing availability for others.

Economic growth alone ensures overall development of a country.

HDI stands for:

A favourable current account means:

HDI includes all the following except:

GNH was introduced by:

Which is NOT a pillar of GNH?

The rate of unemployment shows the economy’s __________ stance.

The current account records exports and __________ of goods and services.

HDI is measured on a scale from __________ to 1.

4. GNH balances material and __________ values.

The Constitution of Bhutan mandates maintaining __________% forest cover.

Lower unemployment rate indicates better economic performance.

GDP per capita measures the total income of the government only.

GNH is a holistic approach that focuses only on economic growth.

Environmental conservation is one of the pillars of GNH.

Income inequality refers to equal distribution of income among all people.

Balance of Payments (BoP) is a record of economic transactions between a country and

Which of the following is included in the current account?

A country has a surplus BoP when:

Balance of Trade refers to:

When a currency increases in value compared to another, it is called:

The balance of payments includes all __________ made to and received from the rest of the world.

The capital account records movements of __________, saving, and borrowing.

If a country imports more than it exports, it has an __________ balance of trade.

The above image shows:

The above image shows:

The above image shows:

Sangay earns Nu 25,000 per month. He spends 60% on consumption and saves the rest. If he also receives Nu 2,000 as interest on his savings, what is his total saving for the month?

A sum of Nu 12,000 is lent at 6% per annum simple interest. If the total amount received after 4 years is Nu 14,880, what is the principal?