Nominal GNP is the same as, a. GNP at constant prices b. Real GNP c. GNP at current prices d. GNP less net factor income from abroad

Q: In an economy:- National income is $10,000 million and net factor income from abroad is $6700…

A: The information being given to us is as follows:- National Income = $10,000 million Net factor…

Q: Calculate national income if NDPFC is $2300 million and net factor income from abroad is $500…

A: According to the above given question, the values given are:- NDPFC = $2300 million Net factor…

Q: The consumption is $430 and the income is $630  Calculate the APC

A: The information being given is:- Consumption = $430 Income = $630 We have to calculate the value of…

Q: Purchase of electricity by a family is:   a. not counted in GDP   b. counted as part of net…

A: Electricity is consumed normally by people just as they consume other goods. Consumer have to pay…

Q: It is difficult to calculate the value of GDP and it does not provide an accurate measure of the…

A: GDP measures the total amount of final goods and services produced in an economy during a given…

Q: Social Security payments

A: ‘Social Security benefits’ are schemes that provide a ‘partial replacement income’ for ‘qualified…

Q: Personal income is national income minus Select one: a. depreciation. b. imports. c. the amount of…

A: Income refers to the earnings of the individuals. Disposable income is the income that remains after…

Q: If nominal GNP through expenditure approach is $10000 and real GNP is $10000. Find the GNP deflator.

A: Nominal GNP = $10000 Real GNP = $10000

Q: Full employment GDP will not be affected by?  A. Unemployment rate B. Technological advance C.…

A: In an economy, full-employment level is also known as potential output level thay can be generated…

Q: f all quantities produced rise by 5 percent and all prices fall by 5 percent, why is nominal GDP…

A: Nominal GDP is the total value of goods and services that are produced in the economy within the…