* not completed

. Gross National Product equals:

Net National Product adjusted for inflation correct incorrect

Gross Domestic Product adjusted for inflation correct incorrect

Gross Domestic Product plus net property income from abroad correct incorrect

Net National Product plus net property income from abroad correct incorrect

* not completed

. Net National Product equals:

Gross National Product adjusted for inflation correct incorrect

Gross Domestic Product adjusted for inflation correct incorrect

Gross Domestic Product plus net property income from abroad correct incorrect

Gross National Product minus depreciation correct incorrect

* not completed

. The standard of living is often measured by:

Real GDP per capita correct incorrect

Real GDP correct incorrect

Real GDP * population correct incorrect

Real GDP plus depreciation correct incorrect

* not completed

. Real national income measures:

Nominal national income adjusted for population change correct incorrect

Nominal national income adjusted for unemployment correct incorrect

Nominal national income adjusted for inflation correct incorrect

Nominal national income adjusted for exchange rates correct incorrect

* not completed

. Which of the following statements is true about the circular flow?

Output is greater than income correct incorrect

Income is more than expenditure correct incorrect

Output is less than expenditure correct incorrect

Output equals income equals expenditure correct incorrect

* not completed

. GDP measures:

A country's income correct incorrect

A country's wealth correct incorrect

Consumer spending correct incorrect

Net trade income correct incorrect

* not completed

. To adjust GDP from market prices to factor cost:

Add indirect taxes correct incorrect

Subtract subsidies correct incorrect

Deduct indirect taxes and deduct subsidies correct incorrect

Deduct indirect taxes and add subsidies correct incorrect

* not completed

. To adjust from Net National Product to Gross National Product:

Add depreciation correct incorrect

Deduct indirect taxes correct incorrect

Add subsidies correct incorrect

Add inflation correct incorrect

* not completed

. The Gini coefficient measures:

Income inequality correct incorrect

Inflation correct incorrect

Unemployment correct incorrect

Economic growth correct incorrect

* not completed

. A higher GDP per capita may not mean that the quality of life has really improved because:

It measures wealth not income correct incorrect

It measures Gross Domestic Product correct incorrect

It does not measure the quality of the items produced correct incorrect

It is only measured every five years correct incorrect