4 marksNational Income Accounting
CAPE Economics Unit 2 · 2010 · Paper 2 · Question 1(a)(i)
Explain the difference between 'Real GDP' and 'Nominal GDP'.
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Practise this questionOther parts of this question
- 1(a)(ii)Discuss TWO reasons why GDP alone is not a complete measure of net economic welfare.[6 marks]
- 1(b)(i)Determine the value of autonomous consumption.[1 mark]
- 1(b)(ii)Determine the value of the marginal propensity to consume.[1 mark]
- 1(b)(iii)Determine the equilibrium level of real GDP.[4 marks]
- 1(b)(iv)Determine the value of the multiplier.[3 marks]
- 1(c)(i)Briefly describe Net National Product (NNP) and state how it is measured.[3 marks]
- 1(c)(ii)Briefly describe Personal Disposable Income (PDI) and state how it is measured.[3 marks]
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