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Flow of factor incomes

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Reference no: EM133127073

DIRECTION: CHOOSE THE LETTER OF THE CORRECT ANSWER.

1. National income is measured as a flow of factor incomes.

A. PRODUCT METHOD

B. INCOME METHOD

C. EXPENDITURE METHOD

2. A recession that lasts longer and has a larger decline in business activity.

A. RECOVERY

B. RECESSION

C. DEPRESSION

3. Inflation at extremely high rates

A. HYPERINFLATION

B. GALLOPING INFLATION

C. DEFLATION

4. Taxes on imported goods

A. IMPORT QUOTAS

B. TARIFFS

C. NON-TARRIFS BARRIERS

5. Taxes are levied at address externalities.

A. TAXES

B. REDISTRIBUTION

C. REPRICING

6. The barangay may impose a tax on stores or retailers with fix business establishment.

A. CITY TAXES

B. BARANGAY TAXES

C. COMMUNITY TAXES

7. A slowdown in the pace of economic activity

A. CONTRACTION

B. TROUGH

C. EXPANSION

8. It includes only production by factors located in the country whether home and foreign owned.

A. GROSS

B. DOMESTIC

C. PRODUCT

9. It pertains to the control over the money supply

A. MONETARY POLICY

B. EXPANSIONARY MONETARY POLICY

C. CONTRACTIONARY MONETARY POLICY

10. It refers to pecuniary liability, as rents or fees against persons or property.

A. TAXES

B. FEES

C. CHARGES

11. Goods and services that are produced abroad and sold domestically.

A. IMPORTS

B. EXPORTS

C. ENTREPOT

12. Measure the average price of all the GNP.

A. GNP DEFLATOR

B. GDP DEFLATOR

C. CONSUMER PRICE INDEX

13. It is the stocks of assets that can be easily used to make transactions.

A. ASSETS

B. TAX

C. MONEY

14. The combining of wages, salaries and profits of self-employed individuals.

A. OPERATING SURPLUS

B. MIXED INCOME

C. COMPENSATION OF EMPLOYEES

15. The power to impose and collect taxes and charges on individuals, goods, services and other to support the operation of the government.

A. FISCAL POLICY

B. POWER OF TAXATION

C. BENEFIT PRINCIPLE

16. IF exports are greater than imports

A. TRADE SURPLUS

B. TRADE SHORTAGE

C. TRADE DEFICIT

17. National income is measured as a flow of expenditure.

A. PRODUCT METHOD

B. INCOME METHOD

C. EXPENDITURE METHOD

18. Inflation at a rate of 50 or 100 or 200 percent annually.

A. HYPERINFLATION

B. GALLOPING INFLATION

C. MODERATE INFLATION

19. The upper turning of a business cycle.

A. TROUGH

B. EXPANSION

C. PEAK

20. It emphasizes on the tax treatment of people with different levels of income.

A. HORIZONTAL EQUITY

B. VERTICAL EQUITY

C. SLANT EQUITY

Reference no: EM133127073

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