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.

Question : Which of the following are true?

1. Real flow is also known as nominal flow.
2. In two sector economy, total production is equal to total consumption.

Question : Which of the following statement are true?

1. Revenue receipt involves loan from world bank.
2. Revenue receipt involves income tax received by government.

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 are true?

1. Domestic territory is also known as economy territory.
2. Printer purchased by lawyer is an intermediate good.