Inventory is a _________ concept, whereas the change in inventory is a ___________ concept.
Ans – (a) Inventory is a Stock concept, whereas the change in inventory is a Flow Concept.
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Which of the following is included in Real Flow?
Ans – (c) Explanation:- Real Flow included the flow of services and flow of goods across households and firms.
In a two-sector economy, _________ depend on ___________ for supply of factor services.
Ans – (a) Explanation:- In a two-sector economy Firms depend on Households for supply of factor services.
Continuous sectoral flow of goods and money in an economy is known as ____________ .
Ans – (c) Explanation:- Continuous sectoral flow of goods and money in an economy is known as Circular Flow.
Flow of Goods and services and factors of production across different sectors in a barter economy is known as:
Ans – (b) Explanation:- Real flow is the flow of factors services and goods and services across factors of production and firms.
Which of the following is a stock?
Ans – (d) Explanation:- Capital is measured at a point of time, thus it is a stock variable.
Which of the following is a flow?
Ans – (c) Explanation:- Depreciation is measured over a period of time, thus it is a flow variable
Which of the following is a stock?
Ans – (a) Explanation:- Wealth is a stock as it is measured at a point of time.
Which of the following is not a flow?
Ans – (a) Explanation:- Capital is stock variable as it measured at a point of time.
In a closed economy ________ is not included
Ans – (d) Explanation:- A closed Economy means, no business with rest of the world. Thus foreign Sector is not included in Closed Economy. Closed Economy Consists of Households Firms Government