Meaning of National Income Concepts And Their Uses - SS2 Economics Past Questions and Answers - page 1
Which of the following measures the economic output of a country?
GDP
GNP
NNP
All of the above
Which of the following measures the economic output of a country's citizens?
GDP
GNP
NNP
All of the above
Which national income concept provides a more accurate picture of a country's economic output?
GDP
GNP
NNP
None of the above
Which national income concept takes into account the loss of value due to depreciation?
GDP
GNP
NNP
None of the above
What is the difference between GDP and GNP?
GDP measures the economic output of a country's citizens, while GNP measures the economic output of a country's residents both domestically and abroad.
GDP measures the economic output of a country's residents both domestically and abroad, while GNP measures the economic output of a country's citizens.
GDP measures the economic output of a country's residents, while GNP measures the economic output of a country's government.
None of the above
What is the purpose of using national income concepts?
In terms of depreciation, differenciate between GDP and NNP