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National Income Quiz

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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 (C)</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 (B)</p> Signup and view all the answers

National Income Quiz

Choose a study mode

Podcast

Questions and Answers

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

What does the income method of measuring national income include?

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

What does the production method of measuring national income consider?

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

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