ECO122
A summation of all the values of goods and services produced in a country by the nationals and non-nationals of that country is referred to as
Answer: gdp
Approaches to measuring GDP are in number
Answer: 3
GNP – Depreciation
Answer: nnp
The ratio of a nationVs income to her population is known as
Answer: per capita income
The major determinant of macroeconomic problems is
Answer: income
Which of the following is not a problem of national income determination?
Answer: problem of paid services
In the consumption function C = a + bYd; a is referred to as
Answer: autonomous consumption
The objectives of macroeconomics includes all except
Answer: individual economic market
The use of goods and services by household is referred to as
Answer: consumption
A fall in exchange rate leads to a rise in export which intum lead to a fall in import and net export function shifts
Answer: upward
The equation of exchange was propounded by
Answer: irving fisher
Price level stability is a
Answer: macroeconomic
The following stages include stages of the evolution of money except
Answer: standard money
The quantity of domestic currency that can be exchanged for a unit of foreign currency in order to allow international transactions to take place is referred to as
Answer: exchange rate
Which of these was posited by Keynes in achieving full employment
Answer: reduction in the real wage rate
A book keeping strategy used by government of a country to measure the level of her economic activity in a given time period is referred to as
Answer: national income accounting
depend on spending decisions made by foreign consumers
Answer: export
The following are components of investment except
Answer: marginal investment
An aggregation of an individuals income with disregard of direct taxes is referred to as
Answer: personal income
Domestic income include all except Answer: income earned abroad
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