Exam 21: Measuring National Output and National Income

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Refer to the information provided in Table 21.5 below to answer the question(s) that follow. Table 21.5 Refer to the information provided in Table 21.5 below to answer the question(s) that follow. Table 21.5   -Refer to Table 21.5. The value for gross private domestic investment in billions of dollars is -Refer to Table 21.5. The value for gross private domestic investment in billions of dollars is

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D

If nominal GDP falls, then so must real GDP.

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False

Refer to the information provided in Table 21.7 below to answer the question(s) that follow. Table 21.7 Refer to the information provided in Table 21.7 below to answer the question(s) that follow. Table 21.7   -Refer to Table 21.7. The value for gross domestic product in billions of dollars is -Refer to Table 21.7. The value for gross domestic product in billions of dollars is

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C

Refer to the information provided in Table 21.1 below to answer the question(s) that follow. Table 21.1 Refer to the information provided in Table 21.1 below to answer the question(s) that follow. Table 21.1   -Refer to Table 21.1. The value of gross domestic product in billions of dollars is -Refer to Table 21.1. The value of gross domestic product in billions of dollars is

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Gross investment minus depreciation equals

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Which of the following is an example of a final good or service?

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If gross investment in 2017 is $200 billion and depreciation in 2017 is $1,000 billion, net investment in 2017 is

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One of the flaws of GDP is that it

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The personal saving rate is

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The only component of GDP which can have a negative value is

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What type of tax affects the amount of money you pay for a product?

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Related to the Economics in Practice on p. 432: The economist most closely associated with the development of the National Income and Product Accounts (NIPAs) is

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GNP minus depreciation is

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Refer to the information provided in Table 21.2 below to answer the question(s) that follow. Table 21.2 Refer to the information provided in Table 21.2 below to answer the question(s) that follow. Table 21.2   -Refer to Table 21.2. The value of government spending in billions of dollars is -Refer to Table 21.2. The value of government spending in billions of dollars is

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If GNP is $200 billion, receipts of factor income from the rest of the world are $10 billion, and payments of factor income to the rest of the world are $30 billion, then GDP is

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"Final goods and services" are those that are

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Refer to the information provided in Table 21.3 below to answer the question(s) that follow. Table 21.3 Refer to the information provided in Table 21.3 below to answer the question(s) that follow. Table 21.3   -Refer to Table 21.3. The value for gross domestic product in billions of dollars is -Refer to Table 21.3. The value for gross domestic product in billions of dollars is

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If personal income is $700 billion and personal income taxes are $140 billion, the value of disposable personal income is

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If the value of net exports is negative, then

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Gross investment is

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