Meaning of National Income Concepts And Their Uses - SS2 Economics Past Questions and Answers - page 1
1
Which of the following measures the economic output of a country?
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A
GDP
B
GNP
Â
C
NNP
D
All of the above
2
Which of the following measures the economic output of a country's citizens?
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A
GDP
B
GNP
C
NNP
Â
D
All of the above
3
Which national income concept provides a more accurate picture of a country's economic output?
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A
GDP
B
GNP
C
NNP
D
None of the above
4
Which national income concept takes into account the loss of value due to depreciation?
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A
GDP
B
GNP
C
NNP
Â
D
None of the above
5
What is the difference between GDP and GNP?
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A
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.
B
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.
C
GDP measures the economic output of a country's residents, while GNP measures the economic output of a country's government.
D
None of the above
6
What is the purpose of using national income concepts?
Â
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7
In terms of depreciation, differenciate between GDP and NNP
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