National Income Accounting Part 1

Net export is adding import and export

• True

• False

GNP is the total value of all final goods and services produced within a country in a given time period.

• True

• False

Output that is produce within and outside the country by local residence is called GNP.

• True

• False

Equilibrium price is also known as

• Cost price

• Factor price

• Factor market

• Market price

All of the following are related to economic investment except

• The purchase of bus transport by a transport company

• The piling up of inventories on a grocer's shelf

• Using bus services to go to Muara

• The purchase of computers by ali's internet cafe

Expenditure approach components are consumption, inventory, government spending & capital consumption

• True

• False

Export is included in the calculation of personal income

• True

• False

The formula for Net Factor Income from abroad is Factor income received – Factor income paid

• True

• False

In calculating national income, the construction of a public hospital is classified as

• Government expenditure

• Private consumption

• Private consumption

• None of the above

The formula for GDP (FC) is GDP(MP) + Subsidy – Indirect Tax

• True

• False