National Income Statistics
29 questions· page 1 of 3
The money income of a country rises by 10% whereas its population falls by 10% during a year.
What is likely to happen to the national income per head?
Options
A It will remain unchanged.
B It will rise by exactly 20%.
C It will rise by less than 20%.
D It will rise by more than 20%.
The table shows figures estimated at the end of a train drivers’ strike.
| $ (000s) | |
|---|---|
| loss of ticket revenue for train companies | 600 |
| value placed on extra leisure time by strikers | 20 |
| loss of government tax revenue | 40 |
| overtime payments to police | 30 |
What was the reduction in the recorded level of national income resulting from the strike?
Options
A $570 000
B $610 000
C $640 000
D $690 000
Which source of income is not included in measuring real GDP?
Options
A pension paid to retired people
B profits made by firms
C rent paid to landlords
D wages paid to nurses
What can be calculated using the formula (nominal GDP x price index in base year) / price index in current year?
Options
A gross national income
B real gross domestic product
C net domestic income
D net domestic product
The table shows selected statistics for a country.
| $bn | |
|---|---|
| gross domestic product at market prices | 600 |
| indirect taxes | 100 |
| subsidies | 50 |
What is the value of gross domestic product at basic prices?
Options
A $500bn
B $550bn
C $650bn
D $700bn
GDP of a country measured at current market prices was $1000bn in year 1. This had risen to $1100bn in year 2.
Over the same period the general price level had risen by 5%.
What has happened to real GDP?
Options
A Real GDP fell by approximately 5%.
B Real GDP fell by approximately 10%.
C Real GDP rose by approximately 5%.
D Real GDP rose by approximately 10%.
The table below shows some national income statistics.
| $ billion | |
|---|---|
| GDP at basic prices | 300 |
| Indirect taxes | 20 |
| Subsidies | 4 |
What is GDP at market prices?
Options
A $276bn
B $284bn
C $316bn
D $324bn
When calculating national income by the income method, what would not be included?
Options
A income from abroad
B profits of private sector businesses
C rent from the ownership of land
D transfer payments
A country's net national income (NNI) is less than its gross national income (GNI).
What does this mean?
Options
A incomes earned overseas were less than incomes sent overseas
B inflation has been accounted for in NNI but not in GNI
C the country's exports decreased
D there has been a net depreciation in the value of the country's fixed capital assets
A government statistical office measured changes in income from employment, pensions and benefits, then subtracted income tax and welfare contributions and adjusted for inflation.
What did the final figure represent?
Options
A changes in nominal income
B changes in nominal net earnings
C changes in real disposable income
D changes in real gross earnings