
GDP NNP GNP
Quiz by shammi sharma
Feel free to use or edit a copy
includes Teacher and Student dashboards
Measure skillsfrom any curriculum
Measure skills
from any curriculum
Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.
With a free account, teachers can
- edit the questions
- save a copy for later
- start a class game
- automatically assign follow-up activities based on students’ scores
- assign as homework
- share a link with colleagues
- print as a bubble sheet
20 questions
Show answers
- Q1Which 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
- Q2What 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
- Q3Which 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
- Q4What 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
- Q5What 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
- Q6Which 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
- Q7Which 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
- Q8Which 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
- Q9What 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
- Q10How 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
- Q11Which of the following represents the total value of all finished goods and services produced within a nation's borders in a given time period?GNPGDPNNPNI30s
- Q12Which of the following measures the total income earned by a country's residents, regardless of where the production occurs?GDPGNPNDPNNP30s
- Q13What does NNP stand for in economic terms?Net National ProductNational Net ProfitNet National ProductiveNational Product Net30s
- Q14Which of the following terms is used to refer to the total economic output of a nation after adjusting for depreciation?GDPNNPGNPNDP30s
- Q15Which measure specifically excludes the value of goods and services produced by foreign residents within a country's borders?NIGDPNNPGNP30s