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111.

Gross national product is:

A.	Total annual monetary receipts by the prople	B.	Total annual spending in the economy
C.	Total market value of final goods and services produced by the economy	D.	All of the above

112.

It is NOT a method to measure national income:

A.	Adding all expenditure	B.	Adding all incomes
C.	Adding value of goods and services	D.	Adding all taxes

113.

Macroeconomics is concerned with:

A.	Aggregate economic activity	B.	Individual decision units
C.	How to produce goods	D.	How to buy stocks and bonds

114.

In economics persons having a joint family budget are called:

A.	Community	B.	Gathering
C.	Household	D.	Organization

115.

Which of the following is NOT macroeconomics:

A.	Inflation	B.	Unemployment
C.	The level of output in the economy	D.	Level of wages in export industry

116.

Investment spending includes the purchase of:

A.	Stocks (shares)	B.	Government bonds
C.	Residential construction	D.	All of the above

117.

Which of the following would NOT be included in GNP:

A.	Government support to the very poor	B.	Government purchase of an airplane
C.	Payment for construction of highway	D.	The salary paid for the President's secretary

118.

It is transfer payment:

A.	Payment of pocket money to children	B.	Financial support to old parents
C.	Broker's commission in some auction	D.	(a) and (c) of above

119.

It is NOT transfer payment:

A.	Payment of pocket money to children	B.	Financial support to old parents
C.	A broker's commission	D.	Donation to a hospital