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Chapter 16

Problem 1

Write a short note on the GNP and the GDP bringing out the difference between the two national income aggregates. Is the GDP a perfect measure of economic activity? Discuss.

Problem 2

Which are the three approaches to calculating the GDP? Discuss.

Problem 3

Write short notes on the following: (a) GNP (b) GDP (c) Nominal GDP and real GDP (d) Personal income (e) Disposable personal income

Problem 4

(a) How is the real GDP measured? (b) How can we arrive at the other measures of income in the national income accounts from the Gross Domestic Product, namely, Gross National Product, Net National Product (NNP) and National Income (NI)?

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