5 Questions
What is macroeconomics?
The study of the economy as a whole and its aggregates
What is GDP?
The total value of all final goods and services produced within the domestic territory of the country over a period of 1 year
What are final goods?
Goods and services purchased, or own during the year, by one production unit from the other production units and get completely used up, or resold, during the same year
What is the principle of national income accounting based on?
Double entry system of business accounting
How are intermediate goods different from final goods?
Intermediate goods are purchased for further production, while final goods are purchased for consumption and investment
Test your knowledge of national income and its aggregates with this quiz. Covering macroeconomics, national income accounting, GDP, and other key concepts, this quiz will help you understand the fundamentals of economic measurement and analysis.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
