EC204M MCQs
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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

    <p>All the other options are correct</p> Signup and view all the answers

    The circular flow of income implies that

    <p>All of the options are correct</p> Signup and view all the answers

    The circular flow of income implies that

    <p>Income = expenditure = production</p> Signup and view all the answers

    In the last 10 years or so

    <p>Neither a nor b are correct</p> Signup and view all the answers

    Transfers to unemployed people

    <p>Are not directly accounted for in the GDP</p> Signup and view all the answers

    In Ireland

    <p>All the other options are correct</p> Signup and view all the answers

    According to the fiscal compact

    <p>Both a and b are correct</p> Signup and view all the answers

    GNI*

    <p>None of the options above are correct</p> Signup and view all the answers

    The gross domestic product

    <p>Neither a nor b are correct</p> Signup and view all the answers

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