Measurement of Economic Performance [AP (Advanced Placement) Macroeconomics]: Questions 1 - 5 of 7

Choose Programs:

📹 Video Course 2024 (33 Lectures [13 hrs : 48 mins]): Offline Support

Rs. 100.00 -OR-

1 Month Validity (Multiple Devices)

Preview All LecturesDetails

🎓 Study Material (230 Notes): 2024-2025 Syllabus

Rs. 400.00 -OR-

3 Year Validity (Multiple Devices)

Topic-wise Notes & SampleDetails

🎯 71 MCQs (& PYQs) with Full Explanations (2024-2025 Exam)

Rs. 100.00 -OR-

3 Year Validity (Multiple Devices)

CoverageDetailsSample Explanation

Help me Choose & Register (Watch Video) Already Subscribed?

Question 1

Question MCQ▾

If a country produced only two things suppose wheat & wheat flour. Wheat of worth $ 4000 and wheat flour of $ 6000. What will be the value of the national product if the cost of the sale is already added in it?

Choices

Choice (5)Response

a.

$ 10000

b.

$ 2000

c.

$ 4000

d.

$ 6000

e.

$ 3000

Edit

Question 2

Question MCQ▾

What is GNP?

Choices

Choice (5)Response

a.

GNP = GDP + Net factor Income from abroad

b.

GNP = C + I + G + (X-M)

c.

GNP = GDP + (X-M)

d.

GNP = GDP

e.

Question does not provide sufficient data or is vague

Edit

Question 3

Question MCQ▾

GDP is $ 10 million, consumer spending is $ 6 million, government spending is $ 3 million, exports are $ 2 million, and imports are $ 3 million. How much is spent for investments?

Choices

Choice (5)Response

a.

$ 2 million

b.

$ 4 million

c.

$ 0 million

d.

$ 3 million

e.

$ 1 million

Edit

Question 4

Question MCQ▾

What are the final goods?

Choices

Choice (5)Response

a.

The goods that are for resale

b.

The goods which are used for final use

c.

Intermediate goods

d.

Primary goods

e.

Question does not provide sufficient data or is vague

Edit

Question 5

Question MCQ▾

Which of the following transactions would be counted in GDP?

Choices

Choice (5)Response

a.

The resale of a sweater you received from your great aunt at Christmas that you never wore on eBay.

b.

The sale of a pound of tomatoes at a supermarket.

c.

The wage you receive from babysitting your neighbor՚s kids.

d.

The sale of illegal drugs.

e.

The sale of cucumbers to a pickle manufacturer.

Edit