Exam 20: The Measurement of National Income

Consider Canada's GDP deflator and Consumer Price Index (CPI).Now suppose the prices of the following goods and services increased.Which is likely to have a larger direct effect on the CPI than the GDP deflator?

The table below includes data for a one-year period required to calculate GDP for this economy.All figures are in billions of dollars. TABLE 20-3 Refer to Table 20-3.What is the value of net domestic income at factor cost?

The table below shows total output for an economy over 3 years. * millions of dollars ** real GDP measured in millions of 2010 dollars TABLE 20-7 Refer to Table 20-7.The growth rate of real output from 2017 to 2018 is

FIGURE 20-1 Refer to Figure 20-1.Which of the following years was used as the base year for constructing real GDP?

Which of the following purchases by households is considered as consumption expenditure for the purposes of national-income accounting?

When calculating GDP from the expenditure side,"actual consumption expenditures" includes

The table below shows total output for an economy over 2 years. TABLE 20-5 Refer to Table 20-5.The real GDP in 2019,expressed in 2018 prices,was

Measures of GDP may understate the economic well-being of people in developing countries if those countries tend to

When calculating GDP from the expenditure side,which of the following is true of the government purchases component,G_a?

The table below includes data for a one-year period required to calculate GDP for this economy.All figures are in billions of dollars. TABLE 20-2 Refer to Table 20-2.What is the value of GDP (in billions of dollars),as calculated from the expenditure side?

The table below shows total output for an economy over 3 years. * millions of dollars ** real GDP measured in millions of 2010 dollars TABLE 20-7 Refer to Table 20-7.The growth rate of nominal output from 2016 to 2017 is

The table below shows total output for an economy over 3 years. * millions of dollars ** real GDP measured in millions of 2010 dollars TABLE 20-7 Refer to Table 20-7.The implicit GDP deflator for 2018 is approximately

When measuring actual gross domestic product from the expenditure side,we use the following simple equation:

Consider the circular flow of expenditure and income in the Canadian economy.Which of the following is an injection into the circular flow?

Suppose a Canadian firm imports $1000 worth of bananas and sells them for $2000.The effect on Canadian GDP would be

The table below includes data for a one-year period required to calculate GDP from the income side for a teeny-tiny economy. TABLE 20-4 Refer to Table 20-4.What is the value of GDP,as calculated from the income side?

In macroeconomics,the term "capital goods" refers to

In Shoetown,a rancher takes $0 worth of inputs and produces animal skins,which he sells to the tanner for $400.The tanner then sells leather to the shoemaker for $700,and the shoemaker then sells $1200 worth of shoes.The value added from these transactions is

To calculate GDP from the expenditure side,one must add together

The table below includes data for a one-year period required to calculate GDP from the expenditure side for a teeny-tiny economy. TABLE 20-1 Refer to Table 20-1.What is the value of GDP,as calculated from the expenditure side?