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
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Which of the following measures the economic output of a country's citizens?
GDP
GNP
NNP
All of the above
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Which national income concept provides a more accurate picture of a country's economic output?
GDP
GNP
NNP
None of the above
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Which national income concept takes into account the loss of value due to depreciation?
GDP
GNP
NNP
None of the above
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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
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What is the purpose of using national income concepts?
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In terms of depreciation, differenciate between GDP and NNP
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