NATIONAL INCOME ACCOUNTING

NATIONAL INCOME ACCOUNTING

12th Grade

35 Qs

quiz-placeholder

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NATIONAL INCOME ACCOUNTING

NATIONAL INCOME ACCOUNTING

Assessment

Quiz

Social Studies, Professional Development, Special Education

12th Grade

Hard

Created by

Kashif Ahsan

Used 435+ times

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35 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

1.How many approaches in calculating national income?

4

3

2

1

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

4. The national income is

a. NNP at factor cost

b. NNP at market price

c. GNP at market price

d. GNP at factor cost

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

5.The value of the output of all goods and services produced within a country in a year.

total output

Gross Domestic Product

national income

net domestic product

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

6.When a nation's exports exceed its imports and is calculated as exports - imports

trade surplus

trade deficit

inventory

gross domestic product

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

7.When a nation's imports exceed its exports and is calculated as imports -exports

inventory

gross domestic product

trade surplus

trade deficit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a circular flow of income in a closed economy with government intervention, leakage consists of _________________.

Investment and savings

Savings only

Savings and taxes

Savings, taxes and imports

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is considered to be an investment in the national income accounts?

Increases in inventories of unsold goods

Money deposited in a bank

Purchases of land

Purchases of Treasury bills

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