Question # 1

Transfer payments means

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Bank loans

The payment without work

Tax payments

Payments made to all factors of production

It is considred as transfer payments

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Salaries of govet emplyees

Bonus of bank employees

Inemployment allowance paid by govt

Free medical are to offers.

The four factor payments are.

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Money, Capital, salaries, and income

Wages, rent internest and profts

Money, power, Prices, and wwalth

Wags, intrest, salareis,andtaxes.

Net investment is

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Gross investment minus household investment

Gross investment minus govt. investment

Gross investment minus capital consumption allowance

None of the above

Total value fo all final goods and services produced annually by a country.

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NNP

GNP

GDP

NI

If we deduct direct tax from personal income we get.

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Net National income

Disposable income

Personal saving

Per capital income

Direct taxes are not included in

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DPI

PI

NNP

a and c above

National income is a measure of

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The zise of government revenue

Payments made to facor of production

Production f goods per day

Total working hours

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

PI is equivalent to

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DPI Minus personal taxes

DIP Plus unerned receipts

DPI Minus income earned but not received

NI plus unearned receipts minus personal taxes

The largest part of national income goes to

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Consumption

Investment

Saving

Transfer payment

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