Real national income denotes.
(A) Per capital income
(B) National income at constant prices
(C) National income at current prices
(D) Net factor income
Values of total goods and services produced in a country is its _____.
(A) Gross Revenue Income
(B) Gross Domestic Product
(C) Total Goods Revenue
(D) Total Income
Stagflation is defined as
(A) high inflation, low growth, high unemployment
(B) high inflation, low growth, high unemployment
(C) high inflation, high growth, high unemployment
(D) low inflation, high growth, low unemployment
Unemployment that arises when there is a general downturn in business activity is known as
(A) Structural unemployment
(B) Frictional unemployment
(C) Cyclical unemployment
(D) Disguised unemployment
A ____________ occurs when a government's total expenditures exceed the revenue that it generates, excluding money from borrowings.
(A) Current Account Deficit
(B) Budgetary Deficit
(C) Revenue Deficit
(D) Fiscal Deficit
Get the Examsbook Prep App Today