Which of the following best defines National Income?

ECO113

Quiz
•
Business
•
University
•
Hard
Severus Snape
FREE Resource
45 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Total money supply in a country
Total value of goods and services produced in a country in a given period
Total profits of business firms in an economy
Total government revenue collected through taxes
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a measure of national income?
Gross Domestic Product (GDP
Net National Product (NNP)
Fiscal Deficit
Gross National Income (GNI)
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a key difference between GDP and GNP?
GDP includes net income from abroad, while GNP does not
GNP includes net income from abroad, while GDP does not
GDP and GNP are always equal
GDP excludes government spending, while GNP includes it
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a method for measuring national income?
Production Method
Income Method
Expenditure Method
Taxation Method
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the expenditure method of calculating GDP, which of the following is NOT included?
Government spending
Household consumption
Transfer payments
Net exports
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which method of national income measurement calculates income earned by individuals and businesses?
Production Method
Income Method
Expenditure Method
Consumption Method
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a use of national income data?
Measuring economic growth
Comparing living standards across countries
Determining the price of stock market shares
Formulating government policies
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