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QUESTIONS
1. What organisation measures the National Income for Ireland?
2. National income is the
earned by the
of a
country from
during a specified period,
usually one year.
3. What are the three methods of measuring national income?
4. Payment received in a form other than monetary is called
.
5. Money received without the supply of goods or services is called
. Is this recorded in national income statistics?
6. Define inputed rent.
7. How is the expenditure method used to calculate national income?
8. Define the relationship between:
a) GDP at current market prices and NNP at factor cost.
b) NNP at factor cost and GDP at current market prices.
9. GDP is the
in the
or
produced in one year by the
irrespective of whether the factors are owned by
at
.
10. Define net factor income from abroad / from the rest of the world.
11. Define GNP at current market prices.
12. Why can net factor income from abroad be negative?
13. What is a better guied to country’s economic activity, GNP or GDP? Why?
14. Define:
a) factor cost
b) GNP at factor cost.
15. Capital used up in production is....
16. Total of all incomes earned by the permanent residents of a country whether earned in
that country or abroad after depriciation has been deducted is called
.
17. How will the GNP be affected in the short and long run by:
a) reduction in indirect taxes
b) reduction in subsidies
c) increase in indirect taxes
d) increase in subsidies.
18. What are the uses of national income statistics?
19. What are the limitations of national income statistics?
20. What are the limitations in international comparison of national income statistics?
21. What are the effects of black economy in Ireland and what measures can the
government take to reduce this activity?