Economic Indicators and National Income
Interactive Video
•
Social Studies
•
9th Grade
•
Practice Problem
•
Hard
GLADYS ANDALES
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are economic indicators primarily used for?
To analyze and predict the overall performance of an economy
To manage personal financial investments
To track individual consumer spending habits
To determine the profitability of specific businesses
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT typically considered a major economic indicator when studying a country's economy?
Gross National Income (GNI)
Consumer Price Index (CPI)
Personal savings account balances
Employment Rate
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main criterion for including economic activity in the Gross National Income (GNI) calculation?
The geographic location where the goods or services are produced
The citizenship of the individuals or entities producing the goods or services
Whether the products are for domestic consumption or export
The total value of raw materials used in production
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main criterion for including economic activity in the Gross Domestic Product (GDP) calculation?
The citizenship of the individuals or entities producing the goods or services
The geographic location where the goods or services are produced
The type of industry involved in the production process
Whether the products are new or second-hand
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why are intermediary goods, like lumber and nails used to make a chair, not included in the calculation of GNI and GDP?
They are not considered valuable economic contributions
To avoid double counting the value of products
They are difficult to track accurately
They are only used for export purposes
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Isaac, a citizen of the Philippines, works in Japan. How is his income treated when calculating the Philippines' national income accounts?
It is included in the Philippines' GDP but excluded from its GNI.
It is excluded from both the Philippines' GNI and GDP.
It is included in the Philippines' GNI but excluded from its GDP.
It is included in both the Philippines' GNI and GDP.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Arturo, originally a Filipino citizen, permanently moved to South Korea and changed his citizenship. How is his income treated when calculating the Philippines' national income accounts?
It is included in the Philippines' GNI but excluded from its GDP.
It is included in the Philippines' GDP but excluded from its GNI.
It is excluded from both the Philippines' GNI and GDP.
It is included in both the Philippines' GNI and GDP.
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