5 Questions
Which measure of national income and output is adjusted for natural resource depletion?
Adjusted national income (NNI at factor cost)
What is the main focus of measures of national income and output in economics?
Counting the total amount of goods and services produced within the economy
How is the boundary of the economy usually defined in national income and output measures?
By geography or citizenship
Which goods and services are excluded in some measures of national income and output?
Bartered goods
What is the purpose of imputing monetary values to bartered goods in some measures of national income and output?
To estimate the value of bartered goods
Test your knowledge on different measures of national income and output used in economics. Learn about concepts like gross domestic product (GDP), gross national product (GNP), net national income (NNI), and adjusted national income. Challenge yourself to understand the intricacies of these measures and their significance in estimating total economic activity in a country or region.
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