Q17 of 50 Page 1

National income is the sum of factor incomes accruing to :

(Choose the correct alternative)


(a) Nationals


(b) Economic territory


(c) Residents


(d) Both residents and non-residents

The correct answer is c)Residents. National income is the sum of factor incomes accruing to residents.


More from this chapter

All 50 →
15

Explain the implications of the following in a perfectly competitive market :

(a) A large number of sellers:


(b) Homogeneous products:


OR


Explain the implications of the following in an oligopoly market :


(a) Barriers to entry of new firms


(b) A few or a few big sellers

 16

Define flows.

 18

What are revenue receipts in a government budget?

 19

Primary deficit equals :

(Choose the correct alternative)


(a) Borrowings


(b) Interest payments


(c) Borrowings less interest payments


(d) Borrowings and interest payments both