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31. |
To avoid double counting when GDP is estimated, economist: |
A. |
Use GDP deflator |
B. |
Calculate value added at each stage of production |
C. |
Use retail prices |
D. |
Use price only intermediate goods |
Answer: Option B
Explanation:
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32. |
A TV set purchased from a retail store is an example of: |
A. |
Intermediate good |
B. |
Capital goods |
C. |
Surplus goods |
D. |
Final goods |
Answer: Option D
Explanation:
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33. |
It is deducted from GNP to find NNP: |
A. |
Savings |
B. |
Direct taxes |
C. |
Depreciation allowance |
D. |
Subsidies |
Answer: Option C
Explanation:
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34. |
Undistributed profits are considered: |
A. |
Income earned but not received |
B. |
Income received but not earned |
C. |
Income earned and received |
D. |
None of the above |
Answer: Option A
Explanation:
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35. |
GNP is: |
A. |
Total sales in the economy |
B. |
Total monetary transactions in an economy |
C. |
The market value of all goods and series produced in an economy |
D. |
Total spending in an economy |
Answer: Option C
Explanation:
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36. |
GNP includes: |
A. |
A loan from a bank |
B. |
Al loan from one's parents |
C. |
Gifts and donations |
D. |
A broker's commission |
Answer: Option D
Explanation:
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37. |
In terms of national income accounts, multiple counting refers to: |
A. |
The addition to GNP of multiple units of a good |
B. |
Counting currently produced goods more than once |
C. |
The inclusion in GNP of gross spending and taxes |
D. |
Counting both goods and services |
Answer: Option B
Explanation:
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38. |
Net Investment is: |
A. |
Gross Investment minus household Investment |
B. |
Gross Investment minus govt. Investment |
C. |
Gross Investment minus capital consumption allowance |
D. |
None of the above |
Answer: Option C
Explanation:
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39. |
PI is equivalent to: |
A. |
DPI minus personal taxes |
B. |
DPI plus unearned receipts |
C. |
DPI minus income earned but not received |
D. |
NI plus unearned receipts minus earnings not received (taxes) |
Answer: Option D
Explanation:
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40. |
Market value of all final goods and services produced in a country during a year is definition of: |
Answer: Option C
Explanation:
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