Practice mode / Basic of Economics GNP includes? A Option A: A loan from a bank B Option B: A loan from one’s parents C Option C: Gifts and donations D Option D: A broker’s commission Correct answer D. A broker’s commission Show answer
Question 01 / Basic of Economics Market value of all final goods and services produced in a country during a year is definition of? A Option A: NI B Option B: NNP C Option C: GNP D Option D: Consumption Correct answer C. GNP Show answer Open question
Question 02 / Basic of Economics Which of the following would increase national income? A Option A: Increase in taxation B Option B: Increase in savings C Option C: Increase in govt. spending D Option D: Decrease in consumption spending Correct answer C. Increase in govt. spending Show answer Open question
Question 03 / Basic of Economics The sum of total income received for the services of labor, land or capital in a country is called? A Option A: Gross domestic product B Option B: National income C Option C: Gross domestic income D Option D: Gross national income Correct answer B. National income Show answer Open question
Question 04 / Basic of Economics Fiscal deficit in the budget means? A Option A: Revenue deficit plus the net borrowings of the government B Option B: Budgetary deficits plus the net borrowings of the government C Option C: Capital deficit plus revenue deficit D Option D: Primary deficit minus capital deficit Correct answer B. Budgetary deficits plus the net borrowings of the government Show answer Open question
Discussion