If a cobbler buys leather for Rs100 and thread for Rs50 and uses them to produce and sell Rs500 worth of shoes to consumers the contribution to GDP is ?

Related Mcqs:

The booming of North Seas’ gas export revenues in the 1970s that appreciated the guilder, making industrial export more costly in foreign currencies and increasing foreign competition and unemployment is known as ?

A. Trade deficit B. Blind river disease C. Dutch disease D. Economic turmoil...

Which of the following country has 25 percent of the world’s estimated oil reserves and the lowest cost production as well as a dominant role in OPEC pricing ?

A. Russia B. Saudi Arabia C. Iraq D. Venezuela...

Micheal Roemer’s three-sector model shows that growth in the booming export sector I- reduces the price of foreign exchange II- retards other sectors’ growth by reducing incentives to export other commodities III- reduces incentives to replace domestic goods for imports IV- raises factor and input prices for non-booming sectors ?

A. I and III only B. II and III only C. I, II and III only D. I, II , III only IV...

An example of a transfer payment is ?

A. Profit B. rent C. unemployment benefits D. government purchases E. wages...

To adjust from Gross National Product to Net National Product ?

A. Deduct depreciation B. Deduct indirect taxes C. Deduct subsidies D. Add inflation...