Measuring A Nation's Income-A

Measuring A Nation's Income-A

University

5 Qs

quiz-placeholder

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Measuring A Nation's Income-A

Measuring A Nation's Income-A

Assessment

Quiz

Business, Other

University

Medium

Created by

Shereen Bacheer

Used 278+ times

FREE Resource

5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Gross Domestic Product is the sum of the market value of the

intermediate goods.

final goods and services

manufactured goods

inferior goods and services

normal goods and services.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For an economy as a whole, income equals expenditure because the income of the seller must be equal to the expenditure of the buyer.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The production of an apple contributes more to GDP than the production of a gold ring because food is necessary for life itself

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An example of a transfer payment is

profit

rent

unemployment benefits

government purchases

wages

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

New home construction is included in the consumption component of GDP.

True

False