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Gillespie: Foundations of Economics 2e

Unit 20


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Question 1

Gross National Product equals:

Question 2

Net National Product equals:

Question 3

The standard of living is often measured by:

Question 4

In a recession:

Question 5

In a boom:

Question 6

GDP is likely to increase with:

Question 7

To adjust GDP from market prices to factor cost:

Question 8

To adjust from Gross National Product to Net National Product:

Question 9

The Gini coefficient measures

Question 10

A higher GDP per capita may not mean that the quality of life has really improved because: