Which of the following statements is not correct in the light of the Malthusian theory of growth?
A. Growth of income cannot take place on its own
B. Population tends to increase in response to rise in income
C. There can be no general glut or overproduction in the market
D. Excess savings on the part of capitalists is the cause of overproduction
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