National Income Statistics 2 Quiz

What is the meaning of national income?

• Total investment in a country

• Total output produced in a country

• Total income earned by the government

• Total expenditure of a country

What does Gross National Product (GNP) include?

• All investment and depreciation

• Total investment and net property income from abroad

• Total income received from the rest of the world

• Total output produced by the country's population wherever they produced it

What is Net National Product (NNP)?

• Total output produced in a country minus depreciation

• Total investment and net property income from abroad

• Total output produced by the country's population

• Total income received from the rest of the world

What is Gross National Income (GNI) equal to?

• GDP plus primary incomes received from the rest of the world

• GNP minus depreciation

• Total output produced in a country

• Total investment and net property income from abroad

What does the Human Development Index (HDI) measure?

• Health, knowledge, and standard of living

• GDP and GNI differences

• Gross National Income (GNI)

• Net National Product (NNP)

What is the difference between GDP and GNI?

• GDP measures the total annual value of what is produced in the nation, while GNI measures the total income earned by the government

• GDP measures the total annual value of what is produced in the nation, while GNI measures the total dollar value of everything produced by a country

• GDP measures the total annual value of what is produced in the nation, while GNI measures an economy's size and growth rate

• GDP measures an economy's size and growth rate, while GNI measures the total dollar value of everything produced by a country

Which method of measuring GDP includes wages, rent, interest, and profits?

• The Output Method

• The Expenditure Method

• The Income Method

• Value added approach

What are market prices in relation to GDP and GNI?

• Prices equal to the income paid to the factors of production for making the output

• Prices equal to the income paid to the government for making the output

• Prices charged to consumers including any taxes on products

• Prices charged to consumers excluding any taxes on products

What do GDP and GNI include?

• Net investment

• Gross investment

• Total investment

• Depreciation

What is Net National Product (NNP) calculated by deducting from Gross National Product (GNP)?

• Total output produced by the country's population

• Depreciation

• Total investment

• Total income received from the rest of the world