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Questions and Answers
What does GDP (Domestic Income) represent?
What does GDP (Domestic Income) represent?
- The sum total of government expenditure within the Domestic Territory of a country during the period of an accounting year
- The sum total of factor incomes generated within the Domestic Territory of a country during the period of an accounting year (correct)
- The sum total of exports and imports within the Domestic Territory of a country during the period of an accounting year
- The sum total of consumer spending within the Domestic Territory of a country during the period of an accounting year
What does GDP include?
What does GDP include?
- Factor Income only (correct)
- Imports and exports only
- Government expenditure only
- Consumption expenditure only
When does GDP account for income generation?
When does GDP account for income generation?
- During a calendar month
- During a financial quarter
- During the period of an accounting year (correct)
- During a fiscal year
Where does GDP account for income generation?
Where does GDP account for income generation?
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