Contents
#1. Which of the following is NOT a limitation of using GDP as a measure of economic welfare?
#2. Which of the following is NOT included in the calculation of GDP?
#3. The income earned by individuals and businesses that is not used for consumption or taxes is known as:
#4. Which of the following is NOT a limitation of using GDP as a measure of economic welfare?
#5. Which of the following is a component of gross private domestic investment?
#6. What is the formula for calculating GDP using the expenditure approach?
#7. Which of the following is considered an intermediate good?
#8. Which component of national income represents the total income earned by residents of a country, including income from abroad?
#9. The sum of all final goods and services produced within a country's borders in a specific time period is known as:
#10. Which of the following is NOT included in the calculation of GDP?
#11. The income earned by individuals and businesses that is not used for consumption or taxes is known as:
#12. What is the formula for calculating GDP using the expenditure approach?
#13. Which of the following is included in the calculation of Gross National Product (GNP) but not in Gross Domestic Product (GDP)?
#14. Which of the following is an example of government transfer payments?
#15. If a country's GDP increases while its population decreases, what is likely to happen to the per capita GDP?
#16. In the national income accounts, indirect taxes minus subsidies are known as:
#17. Disposable income is calculated by subtracting which of the following from personal income?
#18. In the national income accounts, indirect taxes minus subsidies are known as:
#19. Gross National Income (GNI) is equal to:
#20. If a country's GDP increases while its population decreases, what is likely to happen to the per capita GDP?
#21. What is the primary measure of national income?
#22. What is the difference between GDP at market prices and GDP at factor cost?
#23. If a country's GDP is $500 billion, and its population is 100 million, what is the per capita GDP?
#24. Net National Product (NNP) is calculated by subtracting:
#25. Disposable income is calculated by subtracting which of the following from personal income?
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