1.According to the law of demand, what happens when the price of a good rises?
2.Why is Gross National Income (GNI) consistently higher than Net National Income (NNI)?
3.What does a budget deficit indicate?
4.Which factor is most effective in promoting a fairer distribution of income?
5.What does economic development primarily refer to?
6.Which of the following represents a leakage from the circular flow of income?
7.Which of the following is not considered part of consumption expenditure?
8.What does net investment represent?
9.What does GNP represent?
10.Which approach is used to calculate the national income?
11.How is the term 'stagflation' best defined?
12.What does the price elasticity of demand indicate?
13.Which action would lead to a decrease in central planning within an economy?
14.What are transfer payments?
15.Which indicator best reflects the standard of living within a country?
16.What is the term for a tax that is borne and paid directly by the individual on whom it is imposed?
17.In the context of the stock market, who is referred to as a 'Lame Duck'?
18.Which corporation is recognized for having the largest count of shareholders globally?
19.What economic activity is typically encouraged by the devaluation of a country's currency?
20.What happens to the national income when saving is greater than investment?