Exam 20: The Measurement of National Income

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 nominal Gross Domestic Product in 2016 was

An example of an item that would be excluded from a measure of GDP from the expenditure side is

In national-income accounting,"double counting"

Historically,nominal GDP has increased faster than real GDP because

Statistics Canada excludes from GDP the value of goods and services exchanged "under the counter" because

The table below shows total output for an economy over 2 years. TABLE 20-5 Refer to Table 20-5.The nominal Gross Domestic Product in 2019 was

Country X is highly ranked in terms of social well-being but is much lower ranked in terms of per capita GDP.A possible explanation is

If a firm's depreciation exceeds its gross investment,then its

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

Suppose nominal national income in some country increased by 10% during the year,when inflation was 5%.In this case,the real national income

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 income side?

In national-income accounting,the term "fixed investment" refers to

Which of the following would be included in the consumption expenditure component of GDP?

FIGURE 20-1 Refer to Figure 20-1.Nominal GDP increased by approximately ________% between 2000 and 2005.

Which of the following statements regarding housing expenditures in the national accounts is correct?

With regard to national-income accounting,which of the following statements regarding investment (I_a)is correct?

Consider the investment component (I_a)of GDP.The change in the country's capital stock during a year is equal to

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

Suppose nominal national income in some country fell from $100 billion to $95 billion during the year.Over the same period,inflation was 5%.In this case,the real national income in this country

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.When calculating GDP from the income side,we need to add together the following items from the data provided: