National Income and Economic Indicators Quiz

Payments that do not reflect production and income generation within an economy.

Income earned by residents of a country from overseas activities.

Reflects the percentage of people who are actively seeking employment but remain unemployed.

Includes wages, profits, rents, and other sources of income.

Represents goods and services produced outside the country's borders.

Total income of a country divided by its population.

Tracks changes in prices of a basket of goods and services commonly purchased by households.

Predicts future economic trends based on current market behavior.

Accounts for changes in price levels, providing a more accurate measure of economic growth.

Real GDP reflects actual changes in production, while nominal GDP may be affected by price changes.

GNP adjusted for the loss of value of capital goods over time.

GDP fails to capture factors like income distribution, quality of life, and environmental degradation.

Shows the inverse relationship between unemployment and inflation rates.

Includes factors such as life expectancy, education, and per capita income.

Includes factors like social support, generosity, and environmental quality.