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Measuring National Income

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Questions and Answers

Which measure of national income and output is adjusted for natural resource depletion?

Adjusted national income (NNI at factor cost) (correct)

Net national income (NNI)

Gross national product (GNP)

Gross domestic product (GDP)

What is the main focus of measures of national income and output in economics?

Calculating the total income of the nation

Defining the boundary of the economy

Counting the total amount of goods and services produced within the economy (correct)

Estimating total economic activity in a country or region

How is the boundary of the economy usually defined in national income and output measures?

By geography or citizenship (correct)

By the goods and services that are counted

By the exchange of goods and services for money

By the total income of the nation

Which goods and services are excluded in some measures of national income and output?

<p>Bartered goods</p> Signup and view all the answers

What is the purpose of imputing monetary values to bartered goods in some measures of national income and output?

<p>To estimate the value of bartered goods</p> Signup and view all the answers

Measuring National Income

Choose a study mode

Podcast

Questions and Answers

Which measure of national income and output is adjusted for natural resource depletion?

What is the main focus of measures of national income and output in economics?

How is the boundary of the economy usually defined in national income and output measures?

Which goods and services are excluded in some measures of national income and output?

What is the purpose of imputing monetary values to bartered goods in some measures of national income and output?

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