The level of overall economic activity p. II

An increase in national income is:

• Likely to decrease investment

• Likely to increase spending on imports

• Likely to increase exports

• Likely to decrease savings

Gross National Product equals:

• Net National Product adjusted for inflation

• Gross Domestic Product adjusted for inflation

• Gross Domestic Product plus net propertyincome from abroad

• Net National Product plus net property incomefrom abroad

The standard of living is often measured by:

• Real GDP

• Real GDP per capita

• Real GDP plus depreciation

• Real GDP * population

A higher GDP per capita may not mean that the quality of life has really improved because:

• It is only measured every five years

• It measures Gross Domestic Product

• It does not measure the quality of the itemsproduced

• It measures wealth not income

Which of the following is NOT included in the measurement of national income?

• The value of profits distributed to

  shareholders

• The value of the work of a housewife or a

  house husband

• The value of the work of a servant

• The value of army wages

The correct order of phases in a business cycle is

• boom, recession, recovery, through

• boom, through, recession, recovery

• boom, recession, through, recovery

• boom, recovery, recession, through

An alternative measure of economic well being that combines four factors - wellbeing, life

expectancy, inequality of incomes and ecological footprint - is called

• Happiness Index

• Happy Planet Index (HPI)

• OECD Better Life Index

• WELIEF

The nominal GDP of country X in 2020 was $690 billion and in 2021 it fell to $650 billion. In the year

in question country X had experienced an inflation rate of 8%. The price deflator is:

• 0,93

• 12,5

• 0,08

• 1,08

The nominal GDP of country X in 2020 was $690 billion and in 2021 it fell to $650 billion. In the year

in question country X had experienced an inflation rate of 8%. The real GDP in 2021 is equal to (in

billion $)

• 601,85

• 650

• 658,12

• 638,89

The amount of money and credit in the economy is controlled by

• all buyers and sellers who carry out

  transactions

• the government

• no one

• the central bank