9:17 7, National income accounting does famework for f dscusingcomomic e. None o
ID: 1125638 • Letter: 9
Question
9:17 7, National income accounting does famework for f dscusingcomomic e. None of these D natienal income accouning does all o these 8 Gross domestic product constitutes the b current market valae ofall goods and service prodacod in yu d total monctary countny's boners Which of the following economic activities is mot be counted as part of GDP? 6. A gang onber selling legal dugs Nose Dall of those are counted in GOP 10. Productive activity in the underground economy is fully estimated and . If GDP included intermediate goods and services, then a GDP would be understatied 12· The stock of unsold goods held by a firm is called 13. Changes in inventory are applied by economists to measure b. the total value of goods prodeced and sold in a yer e. the lotal value of goeds podeced but t sold in a ye 4. GDP can be calculated asExplanation / Answer
7.
National income accounting is the recording system in the books of accounts of the government which gives insight of country’s economic activity (like the level of production) during the period. Examples: GDP calculation, GNP calculation, GNI calculation, etc.
Option a: It is certainly a framework; therefore, this is not the answer.
Option b: It certainly measures output; and it is done through GDP calculation; therefore, this is not the answer.
Option c: It is definitely correct, since the above definition suggests. Therefore, this option is not the answer.
Option d: This is not correct, because there is no scope of estimation. In this process all are actual figures, since data collects from a past period. Therefore, this is the answer.
Option e: This is not working, because there is already an answer.
Answer: d
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