National Income Accounting Quiz
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Questions and Answers

Which one of these accurately describes GNP?

  • The value of final goods and services minus the value of worn-out capital goods.
  • The total income earned in a nation from the production of goods and services.
  • The market value of all final goods and services produced by a country, including income from foreign sources. (correct)
  • The market value of all final goods and services produced by a country, excluding income from foreign sources.

    • Which one of these accurately describes PI?

  • The total income earned in a nation from the production of goods and services.
  • The income received by a country's people from all sources. (correct)
  • The market value of all final goods and services produced by a country, including income from foreign sources.
  • The market value of all final goods and services produced by a country, excluding income from foreign sources.

    • Which one of these accurately describes NNP?

  • The market value of all final goods and services produced by a country, excluding income from foreign sources.
  • The value of final goods and services minus the value of worn-out capital goods. (correct)
  • The market value of all final goods and services produced by a country, including income from foreign sources.
  • The total income earned in a nation from the production of goods and services.

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