Gr 12. Economics. Macro -1.National income accounting -2

Calculate the net value added at the market price of a firm:

Sale 400

Change in stock -- 20

Depreciation 30

Net indirect taxes 40

Purchase of machinery 200

Purchase of intermediate product 250

• 120

• 110

• 115

• 95

What must be added to the domestic factor income to avail national income?

• NIT

• Net factor Income from abroad

• Depreciation

• Transfer Payment

what is real GDP?

• Gross domestic product calculated at current year prices

• Gross domestic product calculated at constant prices

• Gross domestic product at market price

• Gross domestic product at factor cost

What is Nominal GNP?

• GNP at constant prices

• GNP less Net factor income from abroad

• GNP at current prices

• Real GNP

Which of the following is an example of macroeconomics?

• Price determination

• Consumer’s equilibrium

• Producer’s equilibrium

• Inflation

Which of the following is likely to raise the value of national output/income?

• Rise in withdrawals matching the rise in injections

• Rise in the combined value of investment, public expenditure and exports, injections unchanged

• Rise in withdrawals falling short of the rise in injections

• Rise in withdrawals exceeding the rise in injections

The value of national output produced by residents located within the country, before depreciation and including the influence of taxes and subsidies, is known as:

• GDP at factor cost

• GDP at market prices

• GNP at market prices

• GNP at factor cost

The value of national output produced by residents of a country, whether located at home or overseas, after depreciation and excluding the influence of taxes and subsidies, is known as:

• NNP at factor cost.

• NNP at market price

• NDP at factor cost.

• NDP at market price

Which of the following represents the difference between GNP at market prices and GDP at market prices?

• The value of taxes and subsidies

• Net factor income from abroad.

• Depreciation

• Indirect taxes

Which of the following is a widely used measure of the standard of living?

• Per-capita real GDP

• Percapita Nominal GDP

• NNP fc

• GDP mp