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Economics Grade 11 Unit 3: NATIONAL INCOME ACCOUNTING INTRODUCTION

national exam questions have come from this unit. It runs 21 pages; one careful study pass takes about 1.6 hours, and its difficulty is moderate among Economics units. Each section below lists the questions set from it, with the year, and opens the page that teaches it.

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3.1 Nature of National Income Account and Its importance · read p. 69
Not asked in a national paper yet.
3.2 The Concept of Gross Domestic Product (GDP) and Gross National Product(GNP)71 · read p. 71
Not asked in a national paper yet.
3.2.1 The Concept of Gross Domestic Product (GDP) · read p. 71
Not asked in a national paper yet.
3.2.2 The concept of Gross National Product (GNP) · read p. 71
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3.3 Approaches of Measuring National Income (GDP/GNP) · read p. 72
Not asked in a national paper yet.
3.3.1 The Expenditure Approach · read p. 72
  • 2018 E.C., Q23 – Suppose the planning expert wants to measure the GDP of the country using alternative approaches by including all the necessary components in each approach. Which one of the following statements is correct about the comp
  • 2018 E.C., Q22 – Which one of the following GDP measurement approaches captures government purchase and net export as its component?
3.3.2 The Income Approach · read p. 72
Not asked in a national paper yet.
3.3.3 Product or Value-added Approach · read p. 72
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3.3.4 Circular Flow of Income and the GDP · read p. 72
Not asked in a national paper yet.
3.4 Problems with GDP Measurement · read p. 78
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3.5 The GDP Deflator and the Consumer Price Index · read p. 79
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3.5.1 Nominal and Real GDP values · read p. 80
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3.5.2 The GDP Deflator and other Measures of General Price · read p. 81
  • 2018 E.C., Q19 – Total spending in the economy rises from one year to the next due to either the economy is producing a larger output or outputs are being sold at higher prices. To measure these effects, economists use real GDP and Nomin
  • 2018 E.C., Q6 – To measure the general price level of an economy policy makers, use the GDP deflator, Consumer's Price Index (CPI) and Producer Price Index (PPI). Which one of the following is correct about these measures?
  • 2011 E.C., Q28 – Real GDP is measured at _________ prices
  • 2011 E.C., Q2 – Which one of the following statements is true?
3.6 Other Measures of National Income Account · read p. 83
  • 2016 E.C., Q68 – Which of the following is used to calculate GDP by adding all the incomes accruing to all factors of production used in producing the national output?
  • 2011 E.C., Q21 – Which one of the following represents transfer income?
3.7 GDP and Income Distribution · read p. 86
Not asked in a national paper yet.