National Income and Inflation

National Income and Inflation

Assessment

Flashcard

Other

University

Hard

Created by

Simran undefined

FREE Resource

Student preview

quiz-placeholder

16 questions

Show all answers

1.

FLASHCARD QUESTION

Front

What is national income?

Back

National income refers to the total value of all goods and services produced in a country over a specific period, usually a year.

2.

FLASHCARD QUESTION

Front

What are the methods of measuring national income?

Back

The methods include the production method, income method, and expenditure method.

3.

FLASHCARD QUESTION

Front

What are the types of national income?

Back

Types include Gross National Product (GNP), Net National Product (NNP), Gross Domestic Product (GDP), and Net Domestic Product (NDP).

4.

FLASHCARD QUESTION

Front

What are the problems in measuring national income?

Back

Problems include underreporting, informal economy, inflation adjustments, and differences in valuation.

5.

FLASHCARD QUESTION

Front

What is inflation?

Back

Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power.

6.

FLASHCARD QUESTION

Front

What are the types of inflation?

Back

Types include demand-pull inflation and cost-push inflation.

7.

FLASHCARD QUESTION

Front

What are the theories of inflation?

Back

Theories include the Quantity Theory of Money, Demand-Pull Theory, and Cost-Push Theory.

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

By signing up, you agree to our Terms of Service & Privacy Policy

Already have an account?