Question : Which of the following statement are true?

1. Expenditure on scholarship is a capital expenditure.
2. Subsidies is a revenue expenditure

Question : Which of the following are true?

1. Capital formation is the flow concept 
2. Inventory is a stock variable.

Question : Which of the following statement are true?

1. Corporate tax is revenue receipts.
2. Tax receipt is a capital receipt

Question : Which of the following statement are true?

1. At breakeven point, income and consumption are equal.
2. Equality between AD and AS implies the equality between income and AD.

Question : Which of the following are true?

1. Generation and distribution are the two phases in circular flow of income.
2. There are no exports in a closed economy.