How are following items treated in estimating national income?
(i) Services of owner occupied houses
(ii) Sale of an old car
(iii) Interest on national debt
(iv) Gifts received from abroad
Solution not provided.
Distinguish between microeconomics and macroeconomics.
Give an example of showing the difference between microeconomics and macroeconomics.
Giving reasons categorise the following into intermediate products and final products:
(i) Furniture purchased by a school
(ii) Chalks, dusters purchased by a school.
Giving reasons categorise the following into stocks and flows:
(i) Losses (ii) Capital (iii) Production (iv) Wealth.
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