Measuring National Income
5 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

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

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser