Uses and Limitations of National Income Estimates - SS2 Economics Past Questions and Answers - page 1
What is the purpose of using National Income Estimates?
Measure of economic growth
Measure of social welfare
Measure of environmental health
None of the above
What does GDP stand for?
Gross Domestic Product
Gross Domestic Plan
Great Domestic Plan
None of the above
Which of the following is a limitation of National Income Estimates?
Provides a comprehensive view of an economy's well-being
Does not consider income distribution
Accounts for the activities of the informal economy
None of the above
National Income Estimates are used by governments to inform policy decisions related to what policy?
Education policy
Social welfare policy
National security policy
None of the above
Which of the following is subject to inaccuracies in measurement?
GDP
Income distribution
Environmental Health
None of the above
What is a Limitation of National Income Estimates in terms of its scope?
What is the purpose of using National Income Estimates for policy-making?