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5 marksNational Income Accounting

CSEC Economics · May/June 2011 · Paper 2 · Question 5(b)

Identify the FIVE items used in calculating gross domestic product when using the expenditure approach.

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Other parts of this question

  1. 5(a)Define the term 'gross domestic product'.[2 marks]
  2. 5(c)Explain FOUR ways in which a recession can affect the gross domestic product in your country.[8 marks]
  3. 5(d)Using a numerical example, show how 'nominal output' and 'real output' differ.[5 marks]

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