3 marksNational Income Accounting
CAPE Economics Unit 2 · 2017 · Paper 2 · Question 1(b)(i)
Describe the income approach used to measure GDP.
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Practise this questionOther parts of this question
- 1(a)(i)State TWO determinants of investment.[2 marks]
- 1(a)(ii)Distinguish between 'gross domestic product' (GDP) and 'gross national product' (GNP).[4 marks]
- 1(b)(ii)Describe the expenditure approach used to measure GDP.[3 marks]
- 1(c)Explain ONE way in which growth in a country's GDP may negatively impact the country's standard of living.[3 marks]
- 1(d)Using a standard 45° Keynesian cross diagram, explain how equilibrium is reached between actual expenditure (AE) and income (Y).[10 marks]
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