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GDP NNP GNP

Quiz by shammi sharma

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20 questions
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  • Q1
    Which of the following accurately defines Gross National Product (GNP)?
    The total value of all final goods and services produced within a country's borders.
    The total value of all final goods and services produced by a country's residents in a given timeframe.
    The net value of all final goods and services produced in a year.
    The total income earned by a country's residents, regardless of location.
    30s
  • Q2
    What does Net National Product (NNP) represent?
    Total income generated by foreign investments.
    Gross National Product minus depreciation.
    Gross Domestic Product adjusted for inflation.
    Total value of finished goods within a country's borders.
    30s
  • Q3
    Which of the following is true about Gross Domestic Product (GDP)?
    It represents the amount of money a country has in circulation.
    It includes income earned by residents from investments abroad.
    It measures the total wealth of a nation's residents.
    It measures the value of all final goods and services produced within a country's borders.
    30s
  • Q4
    What is the main difference between Gross National Product (GNP) and Gross Domestic Product (GDP)?
    GNP is always higher than GDP.
    GDP includes foreign production but not local production.
    GNP measures production by a nation's residents, while GDP measures production within a country's borders.
    GNP accounts for government spending, while GDP does not.
    30s
  • Q5
    What does it mean when Gross National Product (GNP) is higher than Gross Domestic Product (GDP)?
    The country has significant income from investments or production abroad.
    The country is experiencing a recession.
    The country has high inflation rates.
    The country has a large population.
    30s
  • Q6
    Which of the following components is NOT included in the calculation of Gross Domestic Product (GDP)?
    Government spending on public services.
    Transfer payments such as social security benefits.
    Consumer spending on goods and services.
    Business investments in equipment and structures.
    30s
  • Q7
    Which statement best describes Net National Product (NNP)?
    NNP adjusts GNP by accounting for the depreciation of capital goods.
    NNP measures only the production of goods, not services.
    NNP takes into account taxes incurred by businesses.
    NNP is equal to GDP plus net income from abroad.
    30s
  • Q8
    Which of the following scenarios would likely increase a country's Gross Domestic Product (GDP)?
    A rise in consumer spending on durable goods such as cars and appliances.
    Increased unemployment rates leading to lower incomes.
    A decrease in factory production due to natural disasters.
    A significant outflow of investments to foreign countries.
    30s
  • Q9
    What is one advantage of using Gross National Product (GNP) as an economic indicator?
    It includes only domestic production, offering a clear view of local industry.
    It provides insights into the economic performance of a nation's residents, regardless of where they are located.
    It reflects only the income generated from exports.
    It directly correlates with a country's level of unemployment.
    30s
  • Q10
    How does depreciation affect Net National Product (NNP)?
    Depreciation is not considered when calculating NNP.
    Depreciation reduces NNP by accounting for the loss of value of capital goods over time.
    Depreciation has no effect on NNP as it only impacts GDP.
    Depreciation increases NNP by adding to the overall value of production.
    30s
  • Q11
    Which of the following represents the total value of all finished goods and services produced within a nation's borders in a given time period?
    GNP
    GDP
    NNP
    NI
    30s
  • Q12
    Which of the following measures the total income earned by a country's residents, regardless of where the production occurs?
    GDP
    GNP
    NDP
    NNP
    30s
  • Q13
    What does NNP stand for in economic terms?
    Net National Product
    National Net Profit
    Net National Productive
    National Product Net
    30s
  • Q14
    Which of the following terms is used to refer to the total economic output of a nation after adjusting for depreciation?
    GDP
    NNP
    GNP
    NDP
    30s
  • Q15
    Which measure specifically excludes the value of goods and services produced by foreign residents within a country's borders?
    NI
    GDP
    NNP
    GNP
    30s

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