Managerial Economics - Study Mode
[#241] Match the items of the List-I with those of List-II and suggest the correct answer from the following. List-I List-II a. GDP 1. National income b. GDP at factor cost 2. NDP plus net flow of income from abroad c. NNP at factor cost 3. Money value of final goods and services produced d. NNP 4. Total gross value added by all enterprises in the economy
Correct Answer
(B) a-3, b-4, c-1, d-2
[#242] Market demand for any good is a function of the
Correct Answer
(D) all of the above
[#243] Match the following: List-I (GNP) List-II (Formula) a. GNP at factor cost 1. GNP at market prices - Indirect taxes + subsidies b. GNP at market prices 2. GDP at market prices + Net Income from Abroad c. GNP as per Expenditure method 3. Private consumption + Gross Domestic Private investment + Net foreign Investment + Government Expenditure on goods and services d. GNP as per Income method 4. Wages and salaries + Rents + Interests + Dividends + Undistributed corporate profits + Mixed Incomes + Direct taxes + Indirect Taxes + Depreciation + Net Income from Abroad
Correct Answer
(A) a-1, b-2, c-3, d-4
[#244] One common definition of luxury goods is goods with an income elasticity
Correct Answer
(A) Greater than one
[#245] If the $$frac{{{ ext{M}}{{ ext{U}}_{ ext{x}}}}}{{{ ext{M}}{{ ext{U}}_{ ext{y}}}}}$$ for individual A is greater than the $$frac{{{ ext{M}}{{ ext{U}}_{ ext{x}}}}}{{{ ext{M}}{{ ext{U}}_{ ext{y}}}}}$$ for individual B, it is possible for individual A to gain by giving up
Correct Answer
(B) Y in exchange for more X from A itself