National Income Quiz
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National Income Quiz

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@MagicBliss

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Questions and Answers

What does the expenditure method of calculating national income take into account?

  • Final goods and services produced in a country during a period of time (correct)
  • Net exports and imports
  • Total investment in the economy
  • Total government spending on goods and services

    • What does the income method of measuring national income include?

  • Net savings of households and businesses
  • Total expenditure on goods and services in the economy
  • Pretax income from individuals and companies, including wages, rent, interest, and profits (correct)
  • Total government revenue from taxes

    • In the context of national income measurement, what does 'C' represent in the equation 'Y = C + I + G + (X-M)'?

  • Government expenditure on goods and services
  • Total capital investment in the economy
  • Consumption by residents of the nation (correct)
  • Net exports of the country

    • What does the production method of measuring national income consider?

    <p>Goods and services produced by the three sectors of the economy</p> Signup and view all the answers

    Which factor is not part of the calculation of national income using the expenditure method?

    <p>Net savings of households and businesses</p> Signup and view all the answers

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