Question : Which of the following are true?

1. Circular flow of income does not takes place in case of closed economy. 
2. Physical flow involves exchange of goods and services.

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.

Question : Which of the following are true?

1. Real flow is also known as nominal flow.
2. 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.
 

Question : Which of the following statement are true?

1. At breakeven point, income and consumption are equal.
2. Equality between AD and AS implies the equality between income and AD.

Option 1: Both are true.
 

Option 2: Both are false.
 

Option 3: Statement 1 is true, statement 2 is false.
 

Option 4: Statement 1 is false, statement 2 is true.
 

Question : Which of the following are true?

1. Capital formation is the flow concept 
2. Inventory is a stock variable.

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

Question : Which of the following are true?

1. Domestic territory is also known as economy territory.
2. Printer purchased by lawyer is an intermediate good.

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.