While measuring a flow variable, what is generally necessary to mention?
Answer and explanation
Correct answer: Time period
A flow is measured over an interval, so its time period must be specified. Statements such as income per month, output during a year, or expenditure in a quarter are meaningful because they identify the interval of measurement. Units are also useful, but they do not distinguish a flow from a stock. Therefore, option A is correct.
Frequently asked questions
What is the correct answer to this question?
Time period
Why is this the correct answer?
A flow is measured over an interval, so its time period must be specified. Statements such as income per month, output during a year, or expenditure in a quarter are meaningful because they identify the interval of measurement. Units are also useful, but they do not distinguish a flow from a stock. Therefore, option A is correct.
Which subject and chapter does this question cover?
This is a Class 11 Economics question. Chapter: National Income and Related Aggregates. Topic: GDP and Welfare.
