31 National income is a measure of what?
Payments made to factors of production
32 When a country is considered poor?
Less production of goods per capita
33 A country is also considered poor with
Less GNP per capita
34 What relation do Consumption and National Income have?
A functional relation
35 What is Macroeconomics?
Aggregate economic activity
36 What is a closed economy?
No international trade is concluded
37 When one or more persons are living in a joint family, in economics it called
Household
38 What is the largest type of income in Pakistan?
Compensation of employees
39 Can you define an open economy?
Interact with other economies
40 On whom corporate tax is levied?
Joint stock companies
