Tag: income determination

Questions Related to income determination

If aggregate demand exceeds aggregate supply, the income rises. 

economics income determination unemployment and employment generation the short run fixed price analysis of the product market liquidity preference and profit

  1. True

  2. False

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Correct Option: A
Explanation:

True.

When Aggregate demand  is more than Aggregate supply, then the planned inventory would fall below the desired level. To bring back the Inventory at the desired level, the producers expand the output More output means more income. Rise in output means rise in AS and rise in income means rise in AD. 

If planned investment falls short of planned saving, then stock of goods tend to pile up.

economics income determination unemployment and employment generation the short run fixed price analysis of the product market liquidity preference and profit

  1. True

  2. False

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Correct Option: A
Explanation:

True. 

When Planned investment is less than the planned savings , then the planned inventory will accumulate as their will be less consumption due to high savings in the economy.

If net income from abroad is negative it means value of exports is less than value of imports.

economics income determination unemployment and employment generation the short run fixed price analysis of the product market liquidity preference and profit

  1. True

  2. False

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Correct Option: A

Which of the following is a correct statement?

economics income determination unemployment and employment generation the short run fixed price analysis of the product market liquidity preference and profit

  1. Every registered taxable person other than ISD, non-resident tax payer & a person paying tax under section 10, 51 or 52 shall verify, validate, modify or delete the details communicated in Form GSTR 2A

  2. The details of outward supplies communicated in Form GSTR 2A cannot be modified or altered

  3. The registered taxable person should accept the details communicated in Form GSTR 2A by 12th of the succeeding month

  4. The registered taxable person other than ISD, non-resident tax payer & a person paying tax under section 10, 51 or 52 shall furnish the details of inward supplies of goods or services excluding tax payable on reverse charge basis.

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Correct Option: A

Aggregate supply is a function of the level of employment in the short run.

economics income determination unemployment and employment generation the short run fixed price analysis of the product market liquidity preference and profit

  1. True

  2. False

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Correct Option: A

Public expenditure includes expenditure on social goods.

economics income determination unemployment and employment generation the short run fixed price analysis of the product market liquidity preference and profit

  1. True

  2. False

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Correct Option: A

The aggregate demand determines the flow of total expenditure.

economics income determination unemployment and employment generation the short run fixed price analysis of the product market liquidity preference and profit

  1. True

  2. False

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Correct Option: A

Saving increases with increase in income.

economics income determination unemployment and employment generation the short run fixed price analysis of the product market liquidity preference and profit

  1. True

  2. False

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Correct Option: A

Changes in level of income and employment can be brought by changing aggregate demand.

economics income determination unemployment and employment generation the short run fixed price analysis of the product market liquidity preference and profit

  1. True

  2. False

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Correct Option: A

In the short run, land, capital, technology remain constant.

economics income determination unemployment and employment generation the short run fixed price analysis of the product market liquidity preference and profit

  1. True

  2. False

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Correct Option: A