Question : 71) Refer to Table 20-2. What the value of GDP, : 1384359

71) Refer to Table 20-2. What is the value of GDP, as calculated from the income side?

A) $3866

B) $3590

C) $3968

D) $3784

E) $3708

72) Refer to Table 20-2. What is the value of net domestic income at factor cost?

A) $3626

B) $3869

C) $3936

D) $3728

E) $3904

73) Of the following possibilities, the best measure of the average material living standards of domestic residents is

A) GDP.

B) GNP.

C) per capita GDP.

D) per capita GNP.

E) per capita net exports.

74) Which of the following pairs are conceptually identical?

A) gross domestic product and gross domestic expenditure

B) gross national product and gross domestic product

C) gross domestic product and personal disposable income

D) personal income and labour income

E) personal income and personal disposable income

75) If the amount of income generated in Canada that is remitted to foreigners is greater than the amount of income generated abroad that is remitted to Canadian residents, then

A) GNP is negative.

B) GNP is less than disposable personal income.

C) GDP is equal to GNP.

D) GNP is lower than GDP.

E) GDP is lower than GNP.

76) The principle difference between GDP and GNP is that GNP measures ________, while GDP measures ________.

A) total income generated by Canadians, both domestic and abroad; total income generated by Canadians, domestic only

B) total factor incomes in the economy; total expenditure in the economy

C) the total amount of income received by Canadian residents; the value of total output produced in Canada

D) the value of total output produced by Canada; wages and salaries received by Canadian residents

E) wages and salaries, plus world-wide investment income received by Canadian residents; the value of total output produced in Canada

77) As a measure of Canadian economic activity GDP is ________ to GNP. As a measure of the income accruing to Canadian residents, GDP is ________ to GNP.

A) inferior; superior

B) superior; equivalent

C) equivalent; inferior

D) inferior; equivalent

E) superior; inferior

78) In recent years, several large Canadian mining companies have been bought by foreign companies. If some of the profits generated at these Canadian mines which previously flowed to Canadian owners are now remitted to foreign owners, then which of the following statements best describes the impact of the change in ownership?

A) Canadian GNP remains constant and Canadian GDP falls.

B) Canadian GNP falls and Canadian GDP is unaffected.

C) There is no change in either Canadian GDP or GNP.

D) The gap between Canadian GNP and GDP becomes smaller.

E) Canadian GNP is larger than Canadian GDP by an increased amount.

79) If you are analyzing fluctuations in Canadian unemployment you would be most interested in studying changes in

A) GNP.

B) disposable personal income.

C) value added.

D) GDP.

E) the GDP deflator.

80) In the national-income accounts, disposable personal income

A) includes capital consumption allowances.

B) includes undistributed corporate profits.

C) equals personal income, minus personal income taxes, plus transfer payments and interest on public debt.

D) is the part of national income that is available to households to spend or save.

E) is equal to wages.