A. Net National Product adjusted for inflation
B. Gross Domestic Product adjusted for inflation
C. Gross Domestic Product plus net property income from abroad
D. Net National Product plus net property income from abroad
Natural Resources and the Environment Toward Sustainable Development
In a recession ?
A. Unemployment is likely to be low
B. Prices are likely to increase
C. Growth is negative
D. Growth is slow
GDP plus net property income from abroad equals what ?
A. GNP
B. NNP
C. Depreciation
D. Real GDP
To adjust GDP from market prices to factor cost ?
A. Add indirect taxes
B. Subtract subsidies
C. Deduct indirect taxes and subsidies
D. Deduct indirect taxes and add subsidies
In a recession a government ?
A. Is likely to want to decrease demand in the economy
B. Is likely to want to decrease demand in the economy
C. Is likely to want to stabilise demand in the economy
D. Is likely to want to increase supply in the economy
An example of a transfer payment is ?
A. Profit
B. rent
C. unemployment benefits
D. government purchases
E. wages
Which of the following would be excluded from UK GDP fro 2005? The sale of ?
A. a haircut
B. the value of a lawyer’s services
C. a 2005 Honda made in Swindon
D. All of things mentioned in these answers should be counted in 2005 GDP.
Pakistan’s Gross Domestic Product (in contrast to Gross National Product) measures the production and income of ?
A. Pakistan -owned firms no matter where they are located in the world
B. The domestic manufacturing sector only
C. The domestic service sector only
D. People and factories located within the borders of the Pakistan
E. none of these answers
If nominal GDP in 2005 exceeds nominal GDP in 2004, then the production of output ?
A. must have fallen
B. must have risen
C. must have stayed the same
D. may have risen fallen, or stayed the same because there is not enough information to determine what happened to real output
GDP would include which of the following ?
A. the value of taking a day off from work
B. consulting services
C. intermediate sales
D. illegal drug sales
E. housework