Question :
81) In the national-income accounts, disposable personal income calculated as
A) : 1384360
81) In the national-income accounts, disposable personal income is calculated as
A) GNP minus that part of it not actually paid to households, minus transfer payments to households.
B) GNP minus that part of it not actually paid to households, plus personal income taxes paid by households.
C) GNP minus that part of it not actually paid to households, plus transfer payments, minus personal income taxes.
D) equal to the gross wages plus salaries received by the household.
E) equal to the gross wages plus interest received by the household.
82) A government transfer payment to a person is
A) an important component of national income.
B) considered a consumption expenditure.
C) included in disposable income measures but not national income.
D) considered a component of G in the calculation of GDP.
E) evidence that government expenditures are too high.
83) Suppose you are hired as a consultant to estimate the increase in consumer demand for automobiles for the coming year. Which measure of aggregate income would be most useful to you for this type of forecasting?
A) Gross Domestic Product
B) Net National Product
C) GDP Deflator
D) Disposable Income
E) Gross National Product
84) The best measure of total income received by Canadian citizens is
A) net domestic income at factor cost.
B) nominal GDP.
C) real GDP.
D) disposable personal income.
E) GNP.
85) Which of the following is the most appropriate measure for evaluating the average material living standards of Canadian residents?
A) disposable income
B) per capita Net National Product
C) Net Domestic Income at Factor Cost
D) per capita Gross Domestic Product
E) per capita Gross National Product
86) Refer to Table 20-4. What is the gross national product (GNP) for this economy?
A) $270 billion
B) $300 billion
C) $355 billion
D) $494 billion
E) $506 billion
87) Refer to Table 20-4. What is the value of personal disposable income in this economy?
A) $234 billion
B) $240 billion
C) $320 billion
D) $326 billion
E) $333 billion
88) Refer to Table 20-4. Assume that consumption expenditure in this economy over the one-year period is $290 billion. What is the level of saving during that year?
A) – $56 billion
B) – $50 billion
C) $30 billion
D) $36 billion
E) $43 billion
89) Historically, nominal GDP has increased faster than real GDP because
A) the general price level has fallen.
B) improvements in product quality have not been reflected in prices.
C) exports have risen more rapidly than imports.
D) imports have risen more rapidly than exports.
E) the general price level has increased.
90) Real GDP is equivalent to
A) the money value of all goods and services produced in an economy per year plus imports.
B) the market value of all goods and services produced in an economy per year.
C) personal disposable income plus depreciation.
D) the value of all goods and services produced in an economy per year adjusted for price changes.
E) the nominal value of GNP multiplied by the GDP deflator.
