ECO122

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A summation of all the values of goods and services produced in a country by the nationals and non-nationals of that country is referred to as
Answer: gdp

Approaches to measuring GDP are	in
number
Answer: 3

GNP - Depreciation
Answer: nnp

The ratio of a nationVs income to her population is known as	
Answer: per capita income

The major determinant of macroeconomic problems is
Answer: income

Which of the following is not a problem of national income determination?
Answer: problem of paid services

In the consumption function C = a + bYd; a is referred to as
Answer: autonomous consumption

The objectives of macroeconomics includes all except	
Answer: individual economic market

The use of goods and services by household is referred to as
Answer: consumption

A fall in exchange rate leads to a rise in export which intum lead to a fall in import and net export function shifts	
Answer: upward

The equation of exchange was propounded
by	
Answer: irving fisher

Price level stability is a
Answer: macroeconomic

The following stages include stages of the evolution of money except	
Answer: standard money

The quantity of domestic currency that can be exchanged for a unit of foreign currency in order to allow international transactions to take place is referred to as	
Answer: exchange rate

Which of these was posited by Keynes in achieving full employment	
Answer: reduction in the real wage rate

A book keeping strategy used by government of a country to measure the level of her economic activity in a given time period is referred to as	
Answer: national income accounting

	depend on spending decisions
made by foreign consumers
Answer: export

The following are components of investment except	
Answer: marginal investment

An aggregation of an individuals income with disregard of direct taxes is referred to as
Answer: personal income

Domestic income include all except Answer: income earned abroad








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