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Questions and Answers
What is the difference between GDP and NDP?
What is the difference between GDP and NDP?
- GDP measures the output of all final goods and services while NDP measures only the output of goods and services produced by domestic residents
- NDP measures the output of all final goods and services while GDP measures only the output of goods and services produced by domestic residents
- NDP includes depreciation while GDP does not (correct)
- GDP includes foreign income while NDP does not
What is the difference between GNP and NNP?
What is the difference between GNP and NNP?
- GNP includes foreign income while NNP does not
- GNP measures the output of all final goods and services while NNP measures only the output of goods and services produced by domestic residents
- NNP includes depreciation while GNP does not (correct)
- NNP measures the output of all final goods and services while GNP measures only the output of goods and services produced by domestic residents
What is the difference between personal disposable income and disposable income?
What is the difference between personal disposable income and disposable income?
- Personal disposable income includes transfer payments while disposable income does not (correct)
- Disposable income includes transfer payments while personal disposable income does not
- Disposable income is the income left after taxes while personal disposable income is the income before taxes
- Personal disposable income is the income left after taxes while disposable income is the income before taxes
