5 Questions
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
What does the income method of measuring national income include?
Pretax income from individuals and companies, including wages, rent, interest, and profits
In the context of national income measurement, what does 'C' represent in the equation 'Y = C + I + G + (X-M)'?
Consumption by residents of the nation
What does the production method of measuring national income consider?
Goods and services produced by the three sectors of the economy
Which factor is not part of the calculation of national income using the expenditure method?
Net savings of households and businesses
Test your knowledge of national income with this quiz covering topics such as types of goods, measures of national income, GDP, GNP, and important MCQs. Learn about the value of goods and services produced by a country and the differences between various types of national income.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
