A. GNP
B. GDP
C. NDP
D. None of these
Correct Answer: GDP ✔
Last Updated: March 28, 2019
Related MCQs
- “Wealth of nations” was written by__________?
- An analytic approach in which we move from general to particular from theory to facts is__________?
- The process of deriving principles is called__________?
- The households and the business firms of the economy are called__________?
- A measure of average output or real output per unit of input is called__________?
- A market in which products households sell and firms buy resources or the services of resources is__________?
- The price paid for the use of services of labour per unit of time is called__________?
- Failure to use all available economic resources to produce goods and services is called__________?
- An economic system in which traditions and customs determine how the economy would use its scare resources ?
- The amount by which a nation’s import of goods (or goods and services) exceeds its export of goods or goods and services is__________?
- The body of knowledge and techniques which can be used to produce goods and service from economic resources is__________?
- A tax imposed by a nation on an imported good is called__________?
- Nominal income adjusted for inflation__________?
- The branch of economics which analyze govt. revenues and expenditures is__________?
- A legally determined price above the equilibrium price is__________?
- The transfer of savings from developing countries to industrially advanced countries to avoid govt. expropriation, taxation and high rates of inflation is__________?
- Changes in govt. spending and tax collection designed to achieve a full employment and non-inflationary domestic out put is called__________?
- A condition when there is excessive produce in the market which lowers down the price is called__________?
- Reproduction in the average total cost of producing a products as the firm expands the size of plants (its output) in the long run__________?
- An increase either in real output (GDP) or in real output per capita is called__________?
- The sale of products below sale of production in a foreign country or below the prices charged at home is called ?
- Power of a good/ service to satisfy human desire/want is called__________?
- All the goods and services produced in a country in a year plus other sources of income for example foreign exchange earnings, foreign aid, foreign remittance, loans etc are called ?
- Total money income received by the individual or recipients of income is called__________?
- “Economics is the study of causes of material welfare” was defined by__________?