Question : Which of the following are true?
- Real flow is also known as nominal flow.
- In two sector economy, total production is equal to total consumption.
Option 1: Both are true.
Option 2: Both are false.
Option 3: Statement 1 is true and statement 2 is false.
Option 4: Statement 1 is false and statement 2 is true.
Answer (1)
25th Jan, 2024
Correct Answer:
Statement 1 is false and statement 2 is true.
Solution :
Money flow is also known as nominal flow.
In two sector economy, total production is equal to total consumption. This is because firm sell their entire output to households.
Hence, Option D is correct.
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