Question 1
What does GDP stand for in national accounts?
Question 2
Which of the following is the best definition of GNI?
Question 3
Which of the following best describes the difference between nominal and real GDP?
Question 4
If a country’s nominal GDP grows by 5% and inflation is 2%, what is the approximate growth rate of its real GDP?
Question 5
Which of the following is a limitation of using GDP as a measure of economic welfare?
