National income and its measurement

Written by Dr. Ahmed Raza (Economics)

بارہویں جماعت · Economics · 12 سوالات

نام: ____________________ تاریخ: ____________

GDP is the total market value of:
- A Only exports
- B All goods and services including intermediate goods
- C Only government spending
- D Final goods and services produced inside a country in a year
GNP is equal to:
- A GDP minus depreciation
- B GDP plus imports
- C GDP minus imports
- D GDP plus net factor income from abroad
NNP is equal to:
- A GNP plus taxes
- B GNP minus depreciation
- C GDP plus depreciation
- D GDP minus exports
Which of these is NOT counted in GDP?
- A The output of a factory
- B Pensions paid by the government
- C The services of a doctor
- D The wages of a teacher
The expenditure method gives GDP as:
- A C + I - G
- B Sum of all intermediate goods
- C C + I + G + (X - M)
- D W + R + I + P
C = 600, I = 200, G = 150, X = 100 and M = 80. GDP is:
- A 970
- B 890
- C 1,050
- D 1,130
Value added is:
- A The total sales of a firm
- B The tax paid by a firm
- C The profit of a firm
- D The value of output less the value of intermediate goods
Real GDP is measured at:
- A Constant prices of a base year
- B Foreign prices
- C Current prices
- D Prices of the next year
Nominal GDP is 500 and real GDP is 400. The GDP deflator is:
- A 125
- B 80
- C 900
- D 100
Which of these is a leakage from the circular flow of income?
- A Savings
- B Exports
- C Government spending
- D Investment
Per capita income is calculated as:
- A GDP minus imports
- B National income divided by population
- C National income multiplied by population
- D GDP divided by exports
Counting the same output more than once in GDP is called:
- A Value added
- B Inflation
- C Double counting
- D Depreciation

جوابی کلید

1. D, 2. D, 3. B, 4. B, 5. C, 6. A, 7. D, 8. A, 9. A, 10. A, 11. B, 12. C

Only final goods are counted to avoid double counting.
GNP counts the income of citizens wherever it is earned.
It takes into account the wear and tear of capital.
A pension is a transfer payment and nothing is produced.
It adds spending on final goods and services.
600 + 200 + 150 + 20 = 970.
The product method adds the value added at each stage.
It removes the effect of price changes.
(500 / 400) x 100 = 125.
Savings, taxes and imports take money out of the flow.
It is the average income per person.
It happens if intermediate goods are added to final goods.