Chapter1answer
NSS Exploring Economics 5
Chapter 1 Measurement of economic performance (I) – GDP and GNP
Questions
P.2
Think it over
1.
Hong Kong people are hardworking and productive. How do we measure our total output?
2.
Our logistics industry is important to our economy. How do we measure its contribution to our economy?
P.3
Test yourself
1.1
Are the following items stocks or flows?
a. The number of Cokes in a refrigerator
b. Your savings deposit in a bank.
c. Output of toys per day
d. Birth rate of a country
P.5
Test yourself
1.2
Are the following resident producing units of Hong Kong?
a. A foreign domestic helper
b. An employee of the Bank of East Asia
c. Branches of the Bank of East Asia in Hong Kong
d. The Bank of East Asia (China) Limited (a subsidiary of the Bank of East Asia in the mainland of China)
P.5 cartoon In two minutes, try to recite the definition of GDP:
GDP is the ____________ of _________ of all __________ of a country or territory in a specified period.
P.8
Test yourself
1.3
Determine whether the following items are final products or intermediate products.
a. Cloth bought by a housewife for making clothing for her children
b. Cloth bought by a domestic garment factory for producing clothing for sale
c. Cloth exported to a foreign garment factory for producing clothing for sale
d. A sewing machine bought by a domestic garment factory for producing clothing for sale
P.16
Discuss
1.1
How should the following government expenditures be treated in calculating GDP?
a. Expenditure of government departments which are engaged in market activities
b. Government investment expenditure
P.19
Test yourself
1.4
Are the following items included in the GDP calculated by the expenditure approach? Put a tick ‘’ to indicate to which expenditure component(s) they belong.
Is it included in the calculation of GDP?
C
I
G
X
M
a. Commission paid by a household for the purchase of a second-hand private car yes/no b. A household’s expenditure on shares
yes/no
Chapter 1 Measurement of economic performance (I) – GDP and GNP
Questions
P.2
Think it over
1.
Hong Kong people are hardworking and productive. How do we measure our total output?
2.
Our logistics industry is important to our economy. How do we measure its contribution to our economy?
P.3
Test yourself
1.1
Are the following items stocks or flows?
a. The number of Cokes in a refrigerator
b. Your savings deposit in a bank.
c. Output of toys per day
d. Birth rate of a country
P.5
Test yourself
1.2
Are the following resident producing units of Hong Kong?
a. A foreign domestic helper
b. An employee of the Bank of East Asia
c. Branches of the Bank of East Asia in Hong Kong
d. The Bank of East Asia (China) Limited (a subsidiary of the Bank of East Asia in the mainland of China)
P.5 cartoon In two minutes, try to recite the definition of GDP:
GDP is the ____________ of _________ of all __________ of a country or territory in a specified period.
P.8
Test yourself
1.3
Determine whether the following items are final products or intermediate products.
a. Cloth bought by a housewife for making clothing for her children
b. Cloth bought by a domestic garment factory for producing clothing for sale
c. Cloth exported to a foreign garment factory for producing clothing for sale
d. A sewing machine bought by a domestic garment factory for producing clothing for sale
P.16
Discuss
1.1
How should the following government expenditures be treated in calculating GDP?
a. Expenditure of government departments which are engaged in market activities
b. Government investment expenditure
P.19
Test yourself
1.4
Are the following items included in the GDP calculated by the expenditure approach? Put a tick ‘’ to indicate to which expenditure component(s) they belong.
Is it included in the calculation of GDP?
C
I
G
X
M
a. Commission paid by a household for the purchase of a second-hand private car yes/no b. A household’s expenditure on shares
yes/no