question

Question text

Section B - 3

1. Analyze and relate the concept of any 2 Leakages and any 2 Injections in Circular flow of income with your own examples. (4 Marks)

2. Why the Transfer of payments are important in the economy? Do you feel that Transfer of payment is the part of national income calculation or not? Justify your answer? (2 Marks)

3. What do you think that among Gross Domestic Product or Gross National Product which is the most suitable for the calculation of national income and why? How the residents who live outside the country affects the national income calculation, by considering if you live outside the country and explain the situation. (4 marks: [2+2 Marks])