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a) Net exports;
b) Wages and salaries;
c) Corporate profits;
d) Proprietors’ income.
4 In 2016 Ukraine had a GDP of approximately $ 93,270.48 million and a
population of 42.672 million. Ukraine’s GDP per person in 2016 was:
a) $ 2,185;
b) $ 380;
c) $ 1,413;
d) $ 132.
5 If Government expenditure is $120 billion, Consumption is $ 400 billion,
Business Investment is $ 60 billion, Export is $ 100 billion, Import is $120 billion,
what is the value of GDP?
a) $ 560 billion;
b) $ 800 billion;
c) $ 680 billion;
d) $ 580 billion.
Answer the following questions.
1 What is difference between GNP and GDP?
2 Why must double counting be avoided when measuring GDP?
3 What are the approaches of measuring national income?
4 What is difference between real and nominal GDP?
5 How is real GDP calculated?
6 How is Per capita GDP calculated?
7 Why should not GDP be considered an effective measure of the standard of
living in a country?
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