How I measured the change in the cost of basic goods and services in comparison with a fixed base period ?

Related Mcqs:

1. S = Savings, I = domestic investment, X = exports of goods and services, and M = imports of goods and services Which of the following is true ?

   A. S – I = X = M
   B. S + I = X + M
   C. S = I – (X+M)
   D. S-I = X/M

2. The value of plant and equipment worn out in the process of manufacturing goods and services is measured by ?

   A. intermediate production
   B. Net National Product
   C. Investment
   D. depreciation
   E. consumption

3. Which term is used for the total net value of all goods and services produced in a country in specified period of time ?

   A. National income
   B. Public income
   C. Local income
   D. Gross income

4. The total quantity of goods and services produced (or supplied) in an economy in a given period is ?

   A. aggregate investment
   B. aggregate expenditure
   C. aggregate demand
   D. aggregate output

5. Real GDP is measured in __________ prices while nominal GDP is measured in _________ prices?

   A. foreign; domestic
   B. current year; base year
   C. domestic; foreign
   D. base year; current year
   E. intermediate; final

6. When average cost is falling marginal cost is ________ and when average cost is rising marginal cost is?

   A. greater than average cost, greater than average cost
   B. less than average cost, greater than average cost
   C. less than average cost, less than average cost
   D. greater than average cost, less than average cost

7. By Which scale the value of all economic activity produced by a nation during a given period is measured ?

   A. Gross Domestic Product (GOP)
   B. Gross National output (GNO)
   C. Gross National Product (GNP)
   D. Gross National output

8. During a given period how the economic activity of a nation is measured?

   A. Gross Domestic Product (GOP)
   B. Gross National output (GNO)
   C. Gross National product (GNP)
   D. Gross National Output

9. Amount of money needed to purchase the goods and services required to maintain a certain standard of living called ?

   A. Cost of living
   B. Basic requirement
   C. Cost of life
   D. None of the above

10. What is called amount of money to purchase the goods and services to maintain life ?

    A. Cost living
    B. Basic requirement
    C. Cost of life
    D. None of these