Question : Which of the following statements is/are false concerning a simple model of the circular flow of economy?
i. The aggregate consumption is more than the aggregate expenditure.
ii. There is government intervention.
iii. There are no trade activities with the rest of the world.
Option 1: Only i and iii
Option 2: Only i
Option 3: Only iii
Option 4: Only ii and iii
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Correct Answer: Only i
Solution : The correct answer is Only i .
The false statement concerning the simple model of the circular flow of the economy is:
i. The aggregate consumption is greater than the aggregate expenditure .
In the simple model of the circular flow of the economy, aggregate consumption is equal to aggregate expenditure. This equality is a key assumption in the basic version of the model, where the total income earned by households (through factors of production) is spent on goods and services produced by firms, leading to a circular flow.
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Question : Which of the following statements is/are correct concerning income or output? i. Income or output are flows. ii. Income or output are stocks. iii. Income or output can be defined over a period.
Question : Which of the following is a type of connective tissue?
I. Blood II. Bone III. Ligament
Question : In which of the following ways is the aggregate demand function related to the consumption function? I. They have the same slope C. II. The aggregate demand function is parallel to the consumption function.
Question : Which of the given statements concerning the National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) is correct?
i. NAFED is registered under the Multi-State Co-operative Societies Act.
ii. It was set up to promote Cooperative marketing of
Question : Identify the incorrect statement/s concerning Self-help groups.
i. They include voluntary groups of up to 20 socially and economically homogenous people.
ii. There is no need to follow well-defined rules and bylaws for SHGs.
iii. In April 1996, RBI
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