National Income Calculation Quiz
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Questions and Answers

Which of the following best represents national income?

  • The total population of a country
  • The total value of goods and services produced within a country in a specific time period (correct)
  • The average income of the citizens in a country
  • The total amount of money held by the government in a specific time frame

    • Which of the following is NOT included in the calculation of national income?

  • Government transfer payments
  • Personal income taxes
  • Corporate profits
  • Imported goods (correct)

    • What is the primary factor used to calculate national income?

  • Gross domestic product (GDP) (correct)
  • Unemployment rate
  • Consumer spending
  • Government expenditure

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