Exam 25: Measuring and Describing the Aggregate Economy

If the price of housing (which accounts for 40% of total expenditures in the CPI basket), rises by 5% in one year while the prices of all other goods remain constant, by how much will the CPI rise?

A government purchases that are counted as part of GDP can be less than the government's total budget because:

Real GDP is calculated by:

The genuine progress indicator provides a measure of social progress that:

If substantially more foreign money is invested in Ireland than Irish citizens have invested abroad, then one will likely expect Irish:

If depreciation is zero, then net domestic product:

If a firm sold $700 worth of goods that cost $800 to produce:

A price index in years beyond the base year:

For the purposes of calculating GDP, investment includes:

A one-time rise in the price level is:

The total annual market value of a nation's final output of goods and services computed at existing prices is called:

Refer to the table shown. What are the economy's net exports?

Double-entry bookkeeping implies that:

If the price of housing (which accounts for 40% of total expenditures in the CPI basket), rises by 10% in one year while the prices of all other goods rises by 27%, by how much will the CPI rise?

If the percent change in real GDP is 5% and inflation rate is 1%, what is the percent change in nominal GDP?

If gross investment is $2,593 billion and net investment is $873 billion, depreciation is:

The key to the equality of output and income is:

Net domestic product equals:

If the CPI in year 2 equals 110 and the CPI in year 3 equals 121, it can be concluded that consumer prices:

The value of the productive capacity of the assets of an economy, measured by the goods and services it can produce both now and in the future rather than by the money prices of the assets, is called: