A household’s or firm’s income in the form of goods or services ?

Related Mcqs:

1. An involuntary payment of money to govt. by a household or firm for which the household or firm receives no good or services directly in return ?

   A. Tariff
   B. Tax
   C. Tacit collusion
   D. Subsidy

2. The amount by which a nation’s import of goods (or goods and services) exceeds its export of goods or goods and services is________________?

   A. Trade surplus
   B. Trade deficit
   C. Trade bloc
   D. None

3. The amount by which a nation’s export of goods (or goods and services) exceeds its import of goods or goods and services is_______________?

   A. Trade surplus
   B. Trade deficit
   C. Trade off
   D. None

4. The export of goods (or goods and services) of a nation less its imports of goods (or goods and services)__________________?

   A. Trade Balance
   B. Trade deficit
   C. Trade surplus
   D. None

5. A payment of money or goods & services by a govt. to a household or firm for which the payer receives no good or service directly in return______________?

   A. Tax
   B. Tariff
   C. Transfer payment
   D. Subsidy

6. The use of the resources of an individual or firm, a region, or a nation to produce one or a few goods and services ?

   A. Specialization
   B. speculation
   C. Fly over
   D. Capital flight

7. A payment of funds by a govt. firm or house hold for which it receives no goods or services in return?

   A. Subsidy
   B. Tax
   C. lump-sum-tax
   D. None

8. 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 ?

   A. GDP
   B. NNp
   C. NDP
   D. GNP

9. A section in a nation’s international balance of payments which records its export and import of goods and services, its net investment income, and its net transfers ?

   A. Current account
   B. Fixed account
   C. Saving account
   D. Capital account

10. The value of a product sold by a firm less the value of the products purchased and used by the firm to produce the product____________________?

    A. Value added
    B. Value of money
    C. Vertical range
    D. None