Exam 21: Measuring National Output and National Income

If GDP is $300 billion, depreciation is $30 billion, and net factor income from the rest of the world is -$40 billion, then net national product is

Exports equal

If national income is $400 billion, personal income is $350 billion, personal taxes are $100 billion, then disposable income equals

A company produced 12 motorcycles in 2015. The company sold 8 in 2015 and added 4 to its inventories. The market value of the motorcycles in 2015 was $1,000 per unit. What is the value of this company's output that will be included in the 2015 GDP?

Which of the following is an example of an intermediate good?

GNI per capita is gross national income divided by the population.

Personal income is national income minus

Intermediate goods are produced by one firm for use in further processing by another firm.

The total market value of all final goods and services produced by resources owned by a country, regardless of where production takes place is

A radiologist buys a new x-ray machine from General Electric to use in her medical practice. This x-ray machine is included in GDP as

Net interest is the interest on loans paid by

Refer to the information provided in Table 21.10 below to answer the question(s) that follow. Table 21.10 -Refer to Table 21.10. Assume that this economy produces only two goods Good X and Good Y. The value for this economy's nominal GDP in year 3 is

Refer to the information provided in Table 21.4 below to answer the question(s) that follow. Table 21.4 -Refer to Table 21.4. The value for NNP in billions of dollars is

Refer to the information provided in Table 21.9 below to answer the question(s) that follow. Table 21.9 -Refer to Table 21.9. Assume that this economy produces only two goods Good X and Good Y. The value for this economy's nominal GDP in year 3 is

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. Personal consumption expenditures in billions of dollars are

Refer to the information provided in Table 21.4 below to answer the question(s) that follow. Table 21.4 -Refer to Table 21.4. The value for GNP in billions of dollars is

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 of net factor payments to the rest of the world in billions of dollars is

If GNP is $625 billion and depreciation is $125 billion, then net national product is

If all disposable income is spent, personal saving will equal zero.

If depreciation equals zero and retained earnings equal $5 billion, then