Which of the following is not a form of money?
Coins
Bank notes
Bank balance
Bank deposit
Correct answer is C
Bank balance is the amount of money held in a bank account at a given moment. It is not a form of money, but rather the total amount of money owned by a bank customer at a particular point in time.
Bank deposit
Joint demand
Scale of preference
Double coincidence of wants
Correct answer is D
Double coincidence of wants is when two people have goods they are both happy to swap in exchange.
When depreciation is deducted from Gross National Product, the result is
Total national income
Gross domestic product
Net national product
Net domestic produc
Correct answer is C
Net national product is the total value of goods produced and services provided in a country during one year, after depreciation of capital goods has been deducted.
Gross Domestic Product at market prices
Gross National product at factor cost
Net National Product at factor cost
Net National Product at market prices
Correct answer is B
The gross national income (GNI), previously known as gross national product (GNP), is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP), plus factor incomes earned by foreign residents, minus income earned in the domestic economy by nonresidents.
If Y = income, C = Consumption, I = Investment, X = Export and M = Import, then national income is
Y = C - I + (x +m)
Y = C + I + (x + m)
Y = C +I +(X - M)
Y =C + I + (m - x)
Correct answer is C
Since national income is the gross domestic product of a country plus all the wages, salaries of its citizens abroad minus earnings of foreign citizens residing in the said country;
National Income = C + I + X - M (exports - imports)