Podcast
Questions and Answers
What was the percentage increase in prices from 2004 to 2005?
What was the percentage increase in prices from 2004 to 2005?
- 0 percent
- 16 percent
- 13 percent
- 22 percent (correct)
What was the percentage increase in real GDP from 2004 to 2005?
What was the percentage increase in real GDP from 2004 to 2005?
- 27 percent
- 22 percent (correct)
- 7 percent
- 0 percent
If Philippines GDP exceeds Philippines GNP, what does this indicate?
If Philippines GDP exceeds Philippines GNP, what does this indicate?
- The Philippines real GDP is more accurate than the Philippines GNP.
- Foreigners are producing more in the Philippines than Philippine citizens are producing in foreign countries.
- Philippine citizens are producing more in foreign countries than foreigners are producing in the Philippines. (correct)
- The Philippines real GDP is higher compared to the Philippines nominal GDP.
Which of the following best describes the relationship between Philippines GDP and GNP?
Which of the following best describes the relationship between Philippines GDP and GNP?
Which economic concept is a better indicator of a nation's economic performance - real GDP or nominal GDP?
Which economic concept is a better indicator of a nation's economic performance - real GDP or nominal GDP?
How would an increase in prices affect real GDP?
How would an increase in prices affect real GDP?
What does a negative percentage change in real GDP indicate?
What does a negative percentage change in real GDP indicate?
What is the main difference between Gross Domestic Product (GDP) and Gross National Product (GNP)?
What is the main difference between Gross Domestic Product (GDP) and Gross National Product (GNP)?
What does 'final' mean when referring to goods and services in GDP calculation?
What does 'final' mean when referring to goods and services in GDP calculation?
In calculating GDP, why is it important to avoid double-counting?
In calculating GDP, why is it important to avoid double-counting?
Which components make up the income approach to measuring GDP?
Which components make up the income approach to measuring GDP?
How is GDP measured using the factor-income approach?
How is GDP measured using the factor-income approach?
What is the significance of 'in a given period' in the definition of GDP?
What is the significance of 'in a given period' in the definition of GDP?
Why does GDP focus on legally sold goods and services 'within a country'?
Why does GDP focus on legally sold goods and services 'within a country'?
