Question : Which one of the following statements is true regarding the rate of interest?

Option 1: The rate of interest may be zero.

Option 2: The rate of interest increases with economic growth.

Option 3: The rate of interest can not be determined.

Option 4: The rate of interest can not be zero.

Question : If we sum the gross value added of all the firms of the economy in a year, we get a measure of the value of the aggregate amount of goods and services produced by the economy in a year. Such an estimate is called ______.

Option 1: Net national product

Option 2: National income at factor price

Option 3: Net value added

Option 4: Gross domestic product

Question : The elasticity of demand for luxury goods is:

Option 1: Less than one

Option 2: More than one

Option 3: Zero

Option 4: Infinite

Question : ______ is the market value of all final goods and services produced within a domestic territory of a country measured in a year.

Option 1: Gross margin

Option 2: Gross Domestic Product (GDP)

Option 3: Net National Product (NNP)

Option 4: Gross National Product (GNP)

Question : If $8 : x :: x : 32$, find the positive value of $x$.

Option 1: 20

Option 2: 16

Option 3: 4

Option 4: 12