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4 marksMacroeconomic Indicators and International Trade

CSEC Principles of Business · May/June 2013 · Paper 2 · Question 7(c)(i)

Describe any TWO of the following methods used to calculate a country's national income: a) The income method b) The expenditure method c) The output method

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Other parts of this question

  1. 7(a)(i)Define the term 'per capita income'.[2 marks]
  2. 7(a)(ii)Explain how per capita income is calculated.[2 marks]
  3. 7(a)(iii)State ONE advantage and ONE disadvantage of using per capita income to measure a country's standard of living.[2 marks]
  4. 7(a)(iv)List TWO factors, other than per capita income, which may be used to measure the standard of living.[2 marks]
  5. 7(b)Discuss TWO factors which may cause the per capita income of a country to rise.[6 marks]
  6. 7(c)(ii)State TWO factors which make it difficult to compare the standard of living of different countries.[2 marks]

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