A. Gross income
B. Net income
C. Personal income
D. None of above
Related Mcqs:
- A market in which money of one nation can be used to purchase the money of other nation is called____________________?
A. Money market
B. International market
C. Foreign exchange market
D. All of these - Total consumption deducted from total income is called__________________?
A. Net income
B. Gross income
C. Saving
D. None of these - Commodities whose demand varies directly with money income are called______________________?
A. Superior or normal goods
B. Complementary goods
C. Substitutes
D. None - A line which shows different combinations of two products a consumer can purchase with a specific money income, given the products price?
A. Indifference curve
B. Lorenz curve
C. Budget line
D. Say’s law - To obtain the greates utility consumer should allocate money income so that last dollar spent on each good or service yields the same marginal utility ?
A. Law of diminishing return
B. Say’ law
C. Law of diminishing marginal utility
D. Say’ law - Using part of income/saving for more income is called_________________?
A. Investment
B. Busyness
C. Consumption
D. Entrepreneurship - The study of how economies are transformed from stagnation to growth and from low income to higher income status?
A. Econometrics
B. Development economics
C. Development plan
D. All - Income that is available to house holds for spending and saving after personal, income taxes have been deducted ?
A. Saving
B. Disposable income
C. Net income
D. All - The responsiveness of the quantity demand of a commodity to change in the consumer’s income, measured by the proportionate change in quantity divided by the proportionate change in income ?
A. Elasticity of demand
B. Import substitution
C. Income elasticity of demand
D. None - Total number of monetary units received by a firm from the sale of a product is called___________________?
A. Total revenue
B. Nominal profit
C. Both
D. None
