National Income is
Net National Product – Indirect Taxes + Subsidies
Gross National Product Direct Taxes
Gross Domestic Product Imports
Net Domestic Product + Products
Transfer payments are
The Total number of inputs used in production
The amount of capital that has been used in a year
Government payments to Individuals that are not made in exchange for goods or services supplied
All of the above
Which of the following is the term used to describe an addition to a nations capital stock?
Inflation
Real GDP
Nominal GDP
Investment
Value added is
The final cost of producing a good
The difference between a firm's sales and its purchases of inputs to the production process
The final value of the good
All the above
The growth of an economy is indicated by an
Increase in general prices
Increase in national income
Increase in savings
Increase in investment
Depreciation measures
The total number of inputs used in production
Government payments to individuals that are not made in exchange for goods or services supplied
The special feature of GDP includes
The value of new goods
The value of record hand goods
Demand of goods
Supply of goods
The total money value of final goods and services produced in the country excluding depreciation is called
NDP
GDP
NNP
GNP
Which of the following is GDP at current prices?
Inflationary GDP
Value added GDP
