What could a government do to correct the current account deficit ?

A. reduce the deficit on the balance of trade
B. reduce the repayment of loans
C. reduce the surplus on the capital account
D. reduce the volume of exports

National income refers to ?

A. money value of goods and and services produced in a country during a year.
B. money value of stocks and shares of a country during a year.
C. money value of capital goods produced by a country during a year.
D. none of these

‘Forex’ stands for ?

A. for examine
B. foreign exchange
C. foreign exports
D. none of these

Fiscal deficit in the budget means ?

A. revenue deficit plus the net borrowings of the government
B. budgetary deficits plus the net borrowings of the government
C. capital deficit plus revenue deficit
D. primary deficit minus capital deficit

Which of the following would increase national income ?

A. increase in taxation
B. increase in savings
C. increase in govt. spending
D. decrease in consumption spending

The sum of total income received for the services of labor, land or capital in a country is called?

A. gross domestic product
B. national income
C. gross domestic income
D. gross national income

To determine the correct level of GNP, it is necessary to ?

A. to add up the values of goods and services for one year
B. add up all savings
C. to count all imports
D. to add up the value of semi-finished goods

The term “Dumping” means ?

A. the sale of the sub-standard commodity
B. sale in a foreign market of a commodity at a price below marginal cost
C. sale in a foreign market of a commodity just at marginal cost without too much of profit
D. smuggling of goods without paying any customs duty

GNP includes ?

A. a loan from a bank
B. a loan from one’s parents
C. gifts and donations
D. a broker’s commission

Market value of all final goods and services produced in a country during a year is definition of ?

A. ni
B. nnp
C. gnp
D. consumption