Question 1

Who made the first major attempt to estimate national income in a somewhat comprehensive manner?

Accepted Answer

A) robert fisher 
B) john maynard keynes 
C) simon kuznets 
D) arthur pigou

Question 2

Imputed value of good is added to the GDP because:

Accepted Answer

A) they indeed represent value 
B) there is no market price for that 
C) they increase consumption 
D) none of the above

Question 3

Investment is reckoned by which method for computing GDP:

Accepted Answer

A) income method 
B) productmethod 
C) expenditure method 
D) value added method

Question 4

A substantial increase in the rate of interest can cause:

Accepted Answer

A) increase in savings 
B) reduce propensity to consume 
C) all the above 
D) none of the above

Exam 5: National Income Accounting and Keynesian Economics

Who made the first major attempt to estimate national income in a somewhat comprehensive manner?