GDP includes
Real capital
Financial capital
Money capital
All 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
National Income is
Net National Product – Indirect Taxes + Subsidies
Gross National Product Direct Taxes
Gross Domestic Product Imports
Net Domestic Product + Products
Which of the following is a way to calculate GDP?
Sum the annual flow of final goods and services
Sum all the costs of producing society's final products
Both a and b
Neither a nor b
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
The per capita income of an economy can be calculated by
Dividing GDP by population
Dividing GNP by population
Multiplying GNP by population
Dividing GNP by number of people employed
In order to avoid ____, when calculating GDP, one should include only the final goods and exclude the intermediate goods that are used in the production.
Status beat bias
Double counting
Value added
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
Gross National Product equals:
Net National Product adjusted for inflation
Gross Domestic Product adjusted for inflation
Gross Domestic Product plus net property income from abroad
Net National Product plus net property income from abroad
