National Income Measurement Quiz

Which component of national income includes the value of all goods and services produced by a country's residents, regardless of their location?

Which of the following factors is NOT considered in the calculation of national income?

What is the primary measure of a country's national income?

In the context of national income, which term refers to the total income earned by individuals and businesses before deducting depreciation and other non-cash expenses?

Gross domestic product (GDP) and gross national product (GNP) are the primary measures of a country's national income.

The value of all goods and services produced by a country's residents, regardless of their location, is included in the calculation of national income.

Depreciation and other non-cash expenses are not deducted from the total income earned by individuals and businesses when calculating national income.

The calculation of national income does not consider factors such as imports, government spending, and private consumption.