Question : Which of the following is a limitation of using GDP as a measure of economic welfare?

Option 1: It only measures the value of goods and services produced domestically

Option 2: It does not take into account the value of non-market activities

Option 3: It does not account for income inequality

Option 4: All of the above

Question : A rising per capita income will indicate better welfare if it is accompanied by:

Option 1: unchanged income distribution overall

Option 2: changed income distribution in favour of the rich

Option 3: changed income distribution in favour of the poor

Option 4: changed income distribution in favour of industrial labour

Question : Why non-cash transactions are ignored while preparing a Cash Flow Statement?

Option 1: Because non-cash transactions do not affect Cash

Option 2: Because non-cash transactions affected cash

Option 3: Because non-cash transactions affected financing activities

Option 4: Because non- cash transactions affected investing activities

Question : Why non-cash transactions are ignored while preparing a Cash Flow Statement?

Option 1: Because non-cash transactions do not affect Cash

Option 2: Because non-cash transactions affected cash

Option 3: Because non-cash transactions affected financing activities

Option 4: Because non- cash transactions affected investing activities

Question : Which of the following is a limitation of the unemployment rate as a measure of unemployment?

Option 1: It does not capture discouraged workers who have given up searching for a job.

Option 2: It does not differentiate between voluntary and involuntary unemployment.

Option 3: It does not consider the quality of employment.

Option 4: All of the above.