In a two sector model ,all goods and services produced by firms ,are bought by the ______________.
Government
Households
Foreign countries
None of these
Remunaration given for the contribution made by human labour is called ___________.
Profit
Rent
Wages
____________ refers to the amount of investment after the replacement of depreciated capital.
Gross investment
Net investment
Net interest
Final goods used by consumers for satisfaction are called __________.
Flow goods
Stock goods
Consumption goods
In __________ method GDP is measured from the demand side of the products.
Product
Expenditure
Income
___________ are variable quantities measurable only over a period of time .
Flows
Stocks
Ratios
____________ supply factors of production to firms in a two sector model.
National income is always measured in terms of ___________.
Money
services
Goods
What are the importance of national income analysis ?
Helps to compare economic development over time.
Helps to make international comparison.
Helps to measure the standard of living of the people of different countries at different periods.
All the above.
In the two sector model diagram the upper part represents _____________.
Product market
Factor market
Service market
