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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What does the Income Method calculate?
💡 Hint: Remember key income sources.
Question 2
Easy
In the Expenditure Method, what does C stand for?
💡 Hint: Think about household spending.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What does the Income Method focus on?
- Total goods produced
- Total income earned
- Total spending
💡 Hint: Consider what is being counted.
Question 2
True or False: The Expenditure Method includes intermediate goods.
- True
- False
💡 Hint: Think about the definition of final goods.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A country's total income is reported as follows: wages total $500 billion, rents are $200 billion, interests $100 billion, and profits are $300 billion. Calculate the National Income using the Income Method.
💡 Hint: Just add the totals for each component.
Question 2
You are given spending values as follows: Consumption = 4000, Investment = 2500, Government Expenditure = 1500, Exports = 1200, Imports = 800. What is the National Income using the Expenditure Method?
💡 Hint: Use the expenditure formula and remember to subtract imports from exports.
Challenge and get performance evaluation