#1
Which of the following is NOT a component of Gross Domestic Product (GDP)?
Consumption
Government spending
Imports
Unemployment rate
#2
Which of the following is included in the calculation of Net Domestic Product (NDP)?
Depreciation
Indirect taxes
Imports
Government transfer payments
#3
Which of the following components is included in the calculation of Gross National Product (GNP) but NOT in Gross Domestic Product (GDP)?
Consumption
Exports
Government spending
Depreciation
#4
What is the formula for calculating Gross Domestic Product (GDP) using the income approach?
GDP = C + I + G + (X - M)
GDP = Wages + Rent + Interest + Profit
GDP = C + I + G
GDP = C + I + G - M
#5
Which of the following is a component of Aggregate Demand (AD) in macroeconomics?
Government spending
Imports
Foreign direct investment
Savings
#6
Which of the following equations represents the expenditure approach to calculating GDP?
GDP = C + I + G + (X - M)
GDP = C + I + G
GDP = C + I + G + X
GDP = C + I + G - M
#7
What does the term 'Value Added' refer to in the context of National Income Accounting?
The total revenue of a firm
The total profit of a firm
The difference between the value of goods produced and the cost of inputs
The total cost of inputs used in production
#8
Which of the following is a measure of a nation's total economic output adjusted for inflation or deflation?
Nominal GDP
Real GDP
Gross National Income (GNI)
Net Domestic Product (NDP)
#9
What does the term 'Balance of Payments' refer to in economics?
The difference between exports and imports of goods and services
The total amount of money held in a nation's reserves
The balance between government spending and revenue
The balance between household income and expenditure
#10
Which of the following represents the formula for calculating National Savings?
National Savings = GDP - Consumption - Government Spending
National Savings = GDP - Consumption - Investment
National Savings = GDP - Consumption - (Government Spending - Taxes)
National Savings = GDP - Consumption - Exports + Imports
#11
What does the abbreviation 'GNI' stand for in National Economic Accounting?
Gross National Income
Gross Net Index
Government Net Income
Global National Investment
#12
Which of the following is NOT a limitation of using GDP as a measure of economic welfare?
It does not account for income inequality
It ignores non-market transactions
It does not consider environmental degradation
It accurately reflects changes in population size
#13
Which of the following is a measure of income inequality often used in economic analysis?
Consumer Price Index (CPI)
Gini coefficient
Phillips curve
Lorenz curve
#14
Which of the following organizations is responsible for publishing the Consumer Price Index (CPI) in the United States?
World Bank
International Monetary Fund (IMF)
Bureau of Labor Statistics (BLS)
Federal Reserve
#15
Which of the following measures the change in the overall level of prices of goods and services in an economy over a period of time?
Inflation
Unemployment rate
Interest rate
Exchange rate