Q. Stock variable is defined as a variable that is Measured over a period of time Measured at a particular point in time Can not be measured None of these Answer: Measured at a particular point in time

Q. Losses are classified as: Stock variable Flow variable Either a) or b) Neither a) nor b) Answer: Flow variable

Q. Two-sector economy consists of: Households, firms Firms, Foreign sector Households, Government Firms, Government Answer: Households, firms

Q. Which of the following is not an example of a flow variable? Number of births during a year National Wealth National Income Wheat produced during a year Answer: National Wealth

Q. Which of the following is not considered a factor of income? Rent Wages Gifts from abroad Profit Answer: Gifts from abroad

Q. Which of the following is a phase of the circular flow of income? Generation Phase Distribution Phase Disposition Phase All of these Answer: All of these

Q. Which of the following is not a part of the final expenditure? Consumer goods purchased by the government Consumer goods exported to the rest of the world Seeds purchased by the farmers Government fixed investment expenditure Answer: Seeds purchased by the farmers

Q. Which of the following is irrelevant in the estimation of compensation of employees? Free accommodation provided to the school principles Free education of the students whose parents are working in schools Wages and salaries in cash Old age pensions Answer: Old age pensions

Q. Which of the following is not included in inventory investment? Change in the stock of finished goods Change in the stock of semi-finished goods Change in the stock of raw material Change in sales during the year Answer: Change in sales during the year

Q. Compensation of employees includes: wages and salaries in cash wages and salaries in kind pension on retirement all of these Answer: all of these