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UK GDP would exclude which of the following ? A. Lawyer services purchased by a home buyer B. The purchase of a new Nissan produced in SunderlandC. Copper purchased by tap manufacturer Bristan D. A new art gallery purchased by the city of Newcastle E. Lawn care services purchased by a home owner.
Real GDP is measured in __________ prices while nominal GDP is measured in _________ prices? A. foreign; domestic B. current year; base year C. domestic; foreignD. base year; current year E. intermediate; final
If a cobbler buys leather for Rs100 and thread for Rs50 and uses them to produce and sell Rs500 worth of shoes to consumers the contribution to GDP is ? A. Rs50 B. Rs100 C. Rs650D. Rs500
Gross Domestic Product is the sum of the market value of the ? A. intermediate goodsB. final goods and services C. manufactured goods D. inferior goods and services normal goods and services
Gross Domestic Product can be measured as the sum of ? A. final goods and services intermediate goods, transfer payments, and rent B. consumption investment government purchases and net exports C. consumption transfer payments. wages and profits.D. Net National Product Gross National Product, and Disposable personal income E. investment wages profits and intermediate production
The value of plant and equipment worn out in the process of manufacturing goods and services is measured by ? A. intermediate production B. Net National Product C. InvestmentD. depreciation E. consumption
A higher GDP per capita may not means that the quality of life has really improved because ? A. It measures wealth not income B. It measures Gross Domestic Product C. It does not measure the quality of the items produced D. It is only measured every five years:
To adjust from Gross National Product to Net National Product ? A. Deduct depreciation B. Deduct indirect taxesC. Deduct subsidies D. Add inflation
The standard of living is often measured by ? A. Real GDP per capita B. Real GDP C. Real GDP population D. Real GDP plus depreciation
Net National Product equals ? A. Gross National Product adjusted for inflation B. Gross Domestic Product adjusted for inflation C. Gross Domestic Product plus net property income from abroadD. Gross National Product minus depreciation