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EC204M MCQs

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Questions and Answers

Output produced in 2023 but sold in 2024

Is accounted for both in 2023 and in 2024 GDP

Enters only 2024 GDP

Is split between 2023 and 2024 GDP

Enters only 2023 GDP (correct)

Which of the following enters GDP as Investment?

New house being bought by a couple

Unsold production

Both a and b are correct (correct)

Neither a nor b are correct

GDP - GNP

Is always positive

Is very close to 0 in Ireland

Both a and b are correct

Neither a nor b is correct (correct)

Median disposable income

All the other options are correct (B) Signup and view all the answers

The circular flow of income implies that

All of the options are correct (D) Signup and view all the answers

The circular flow of income implies that

Income = expenditure = production (B) Signup and view all the answers

In the last 10 years or so

Neither a nor b are correct (D) Signup and view all the answers

Transfers to unemployed people

Are not directly accounted for in the GDP (D) Signup and view all the answers

In Ireland

All the other options are correct (C) Signup and view all the answers

According to the fiscal compact

Both a and b are correct (C) Signup and view all the answers

GNI*

None of the options above are correct (D) Signup and view all the answers

The gross domestic product

Neither a nor b are correct (D) Signup and view all the answers

EC204M MCQs

Choose a study mode

Podcast

Questions and Answers

Output produced in 2023 but sold in 2024

Which of the following enters GDP as Investment?

GDP - GNP

Median disposable income

The circular flow of income implies that

The circular flow of income implies that

In the last 10 years or so

Transfers to unemployed people

In Ireland

According to the fiscal compact

GNI*

The gross domestic product

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