Question # 1

It is avoided to make correct estimate of national income.

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Double counting

Export earnings

All of the above

In calculating national income which one will NOT be included.

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Exports

Old age pensions

Wages of lecturer

Undistributed profit by firms

Consumption spending does NOT include.

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Household's purchases of clothes

Household's purchase of a car

Household's paymnet of rent for an apartment

Household's purchase of shares of a business corporation

In circular flow model

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Govt. owns productive resources

Firms own productive resources

Households own productive resorces

Rent of land is not included

Transfer payments include.

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Daily wages, pensions

Pensions Zakat

Taxes, pocket money

Zakat , taxes

Transfer payments means.

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Bank loans

The payment without work

Payments made to all factors of production

Tax payments

If we include it. national income will be over estimated

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Transfer payment

Income from abroad

Illegal income

Exports

Real national income increases when

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Prics of goods are rising

National savings increases

Quantity of goods and services increases

None of the above

Investment spending included the purchase of.

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Lottery coupon

Prize Bond

Residential construction

all of the above

If govermment increases taxes pivate savings.

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Increase

Decrease

Do not change

Will become zero

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