Which of the following is inconsistent with the Schumpeter's theory of development?
A. The course of growth is continuous
B. The output expansion, initiated by the entrepreneue, increases in size with time, making it cumulative
C. Growth takes place on account of entrepreneurs who, with the help of bank credit, invest in innovative activity
D. Capitalism destroys itself by being successful through the erosion of its institutions, by the hostility of its intellectuals and other elite classes,
A. Income per worker
B. Income per head
C. Income per household
D. Income per industrial unit
If indirect taxes are deducted from NNP and subsidies are added, we achieve:
A. Personal savings
B. DPI
C. NI
D. Per capita income
Transfer payments are not included in national income because:
A. Such payments are made to persons living abroad
B. Double counting would result
C. They are illegal
D. There is no method to account for these
To determine the correct level of GNP, it is necessary to:
A. Add up the values of goods and services during one year
B. Add up all savings
C. Count all imports
D. Add up the value of semi finished goods