(A) Expenditure method
(B) Income method
(C) Product method
(D) All of the above
The four factor payments are:
(A) Money, Capital, Salries and income
(B) Wages, rent, interest and profits
(C) Money, power, prestige and wealth
(D) wages, intrest, salries and income
GNP is always:
(A) Less then NNP
(B) Grater then NNP
(C) Equal then NNP
(D) Any of the above
To determine the correct level of GNP it is necessary to:
(A) To add up the values of goods and services during one year
(B) Add up all savings
(C) To count all imports
(D) To add up the values of semi finished goods
In which case is total expenditure in an economy not equal to total income?
(A) If total saving is larger than total investment
(B) If net exports are not zero
(C) If inventory investment is negative
(D) None of the above–they are always equal
The government puts pressure on trade unions to make pay claims which are below the increase in productivity over the past year?
(A) Frictional Unemployment
(B) Technological Unemployment
(C) Structural Unemployment
(D) Real Wage Unemployment
To offset the downswing in the business cycle, the government announces a major increase in public expenditure?
(A) Technological Unemployment
(B) Demand Deficient Unemployment
(C) Real Wage Unemployment
(D) Regional Unemployment
An unspoken agreement between workers and firms that the firm will not cut wages is known as:
(A) An explicit contract.
(B) An implicit or social contract.
(C) Employment-at-will.
(D) A relative-wage contract.