A way of calculating the total output of the economy and all incomes earned within the Pakistan regardless of whether the resources are Pakistan or foreign is_______________?
Correct answer: A. the GDP
- A. the GDP
- B. the GNP
- C. the NNP
- D. the SPQR
Explanation
GDP measures production within a country's borders, regardless of whether the productive resources are domestically or foreign owned. GNP instead measures income generated by a country's nationals and firms, including income from abroad.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Macroeconomics
The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
Practise Macroeconomics
1,499 free Macroeconomics MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Economics questions like this
Economics is on 3 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Macroeconomics questions
In economic growth it is important to consider________________?
The Keynesian revolution acknowledged_________________ ?
A demand-side theory that focuses on the role of money to finance aggregate demand is termed__________?
Participant observation_________________?
Capitalisms roots can be found in_________________?
NAFTA binds which three countries into a single commercial entity ?