56)
Wages paid to teachers, police personnel, and postal workers are not transfer
payments because they are payments for services and not simply “transfers”
of money.
We Write Essays for Students
Tell us about your assignment and we will find the best writer for your paper
Get Help Now!57)
A trade surplus occurs when a country’s exports exceed that country’s imports.
58)
Net exports are total imports minus total exports.
59)
We ADD to the GDP when goods produced abroad are sold in the United States.
60)
Define GDP.
61)
Explain why only final goods are included in GDP.
62)
List and describe the four components of GDP.
63)
Define transfer payments and explain why they are not included in the
government purchases section of the GDP accounts.
11.3 The Income Approach: Measuring a Nation’s
Macroeconomic Activity Using National Income
1)
Income that flows to the private sector for services and production, is called
A)
net income.
B)
national income.
C)
deficit income.
D)
derived income.
2)
When gross domestic product (GDP) is adjusted by adding any income earned
abroad by U.S. firms or residents which is sent back to the United States and
by subtracting any income earned in the United States by non-U.S. corporations
or foreign nationals which is sent back to their home countries, it is called
A)
depreciation.
B)
subsidized income.
C)
international GDP.
D)
gross national product (GNP).
The post Chapter 11 Measuring a Nation’s Production and Income appeared first on US Online Professors.
Welcome to originalessaywriters.com, our friendly and experienced essay writers are available 24/7 to complete all your assignments. We offer high-quality academic essays written from scratch to guarantee top grades to all students. All our papers are 100% plagiarism-free and come with a plagiarism report, upon request
Tell Us “Write My Essay for Me” and Relax! You will get an original essay well before your submission deadline.
