Gdp Flashcards
1
Q
The income of a non-resident foreigner is included in the computation of Gross National Product.
A
F
2
Q
Transport equipment is the commodity group with the highest value in Philippine exports.
A
F
3
Q
GDP is computed using the Income Approach by adding all the factors of production.
A
F
4
Q
The Production Approach is used to avoid double or multiple counting of a product’s value.
A
T
5
Q
Imports are deducted when computing for GDP using the Expenditure approach.
A
T
6
Q
Gross National Product pertains to the overall production of the citizens of the country.
A
T
7
Q
Investment Spending of household pertains to expenditures related to buying of goods and services.
A
F
