Managerial Economics

40. Match the following :

List-I (Authors)

(A) Marshall

(B) Pigou

(C) Fisher

(D) T. F. Demberg

List-II (Statement)

The labour and capital of a country acting on its natural resources produce annually a certain net aggregate of commodities, material and immaterial including services of all kinds. This is the true net annual income or revenue of the country or national dividend

2. National income is that part of objective income of the community including of course income derived from abroad which can be measured in money

3. The national dividend or income consists solely of services as received by ultimate consumers whether from their material or from their human environments. Thus, a Piano, or an overcoat made for me this year is not a part of this year's income, but an addition to the capital. Only the services rendered to me during this year by these things are income

4. Gross domestic product at market price is defined as the market value of the output of final goods and services produced in the domestic territory of a country during an accounting year

5. Economics is a subject concerned with an enquiry into the nature and causes of wealth of nations