Question 1

In the national income accounts, goods bought for future use are classified as which type of expenditure?

Accepted Answer

A) services 
B) investment 
C) government purchases 
D) net exports 
A) services 
B) investment 
C) government purchases 
D) net exports

Question 2

The household survey conducted by the Bureau of Labor Statistics provides estimates of the number of workers , while the establishment survey provides estimates of the number of workers .

Accepted Answer

A) self-employed; unemployed 
B) unemployed; self-employed 
C) with jobs; on firms' payrolls 
D) on firms' payrolls; with jobs 
A) self-employed; unemployed 
B) unemployed; self-employed 
C) with jobs; on firms' payrolls 
D) on firms' payrolls; with jobs

Question 3

To compute the value of GDP:

Accepted Answer

A) goods and services are valued at market prices. 
B) the sale of used goods is included. 
C) production for inventory is not included. 
D) goods and services are valued by weight. 
A) goods and services are valued at market prices. 
B) the sale of used goods is included. 
C) production for inventory is not included. 
D) goods and services are valued by weight.

Question 4

A woman marries her butler. Before they were married, she paid him $60,000 per year. He continues to wait on her as before (but as a husband rather than as a wage earner). She earns $1,000,000 per year both before and after her marriage. The marriage:

Accepted Answer

A) does not change GDP. 
B) decreases GDP by $60,000. 
C) increases GDP by $60,000. 
D) increases GDP by more than $60,000. 
A) does not change GDP. 
B) decreases GDP by $60,000. 
C) increases GDP by $60,000. 
D) increases GDP by more than $60,000.

Question 5

Imputed values included in GDP are the:

Accepted Answer

A) market prices of goods and services. 
B) estimated value of goods and services that are not sold in the marketplace. 
C) price of goods and services measured in constant prices. 
D) price of goods and services measured in current prices. 
A) market prices of goods and services. 
B) estimated value of goods and services that are not sold in the marketplace. 
C) price of goods and services measured in constant prices. 
D) price of goods and services measured in current prices.

Question 6

National income differs from net national product by an amount called:

Accepted Answer

A) depreciation. 
B) indirect business taxes. 
C) a statistical discrepancy. 
D) net foreign factor income payments. 
A) depreciation. 
B) indirect business taxes. 
C) a statistical discrepancy. 
D) net foreign factor income payments.

Question 7

The largest component of national income is:

Accepted Answer

A) corporate profits. 
B) compensation of employees. 
C) proprietors' income. 
D) net interest. 
A) corporate profits. 
B) compensation of employees. 
C) proprietors' income. 
D) net interest.

Question 8

An economy's equals its .

Accepted Answer

A) consumption; income 
B) consumption; expenditure on goods and services 
C) expenditure on goods; expenditures on services 
D) income; expenditure on goods and services 
A) consumption; income 
B) consumption; expenditure on goods and services 
C) expenditure on goods; expenditures on services 
D) income; expenditure on goods and services

In the national income accounts, goods bought for future use are classified as which type of expenditure?

The household survey conducted by the Bureau of Labor Statistics provides estimates of the number of workers , while the establishment survey provides estimates of the number of workers .

To compute the value of GDP:

A woman marries her butler. Before they were married, she paid him $60,000 per year. He continues to wait on her as before (but as a husband rather than as a wage earner). She earns $1,000,000 per year both before and after her marriage. The marriage:

Imputed values included in GDP are the:

National income differs from net national product by an amount called:

The largest component of national income is:

An economy's equals its .

The Science of Macroeconomics

National Income: Where It Comes From and Where It Goes

Money and Inflation

The Open Economy

Unemployment

Economic Growth I: Capital Accumulation and Population Growth

Economic Growth II: Technology, Empirics, and Policy

Introduction to Economic Fluctuations

Aggregate Demand I: Building the Is-Lm Model

Aggregate Demand II: Applying the Is-Lm Model

Aggregate Supply and the Short-Run Tradeoff Between Inflation and Unemployment

Stabilization Policy

Government Debt and Budget Deficits

Introduction to the Financial System

Asset Prices and Interest Rates

Securities Markets

Banking

Financial Crises

Filters

Exam 2: The Data of Macroeconomics

In the national income accounts, goods bought for future use are classified as which type of expenditure?

The household survey conducted by the Bureau of Labor Statistics provides estimates of the number of workers , while the establishment survey provides estimates of the number of workers .

To compute the value of GDP:

A woman marries her butler. Before they were married, she paid him $60,000 per year. He continues to wait on her as before (but as a husband rather than as a wage earner). She earns $1,000,000 per year both before and after her marriage. The marriage:

Imputed values included in GDP are the:

National income differs from net national product by an amount called:

The largest component of national income is:

An economy's equals its .

The Science of Macroeconomics

National Income: Where It Comes From and Where It Goes

Money and Inflation

The Open Economy

Unemployment

Economic Growth I: Capital Accumulation and Population Growth

Economic Growth II: Technology, Empirics, and Policy

Introduction to Economic Fluctuations

Aggregate Demand I: Building the Is-Lm Model

Aggregate Demand II: Applying the Is-Lm Model

Aggregate Supply and the Short-Run Tradeoff Between Inflation and Unemployment

Stabilization Policy

Government Debt and Budget Deficits

Introduction to the Financial System

Asset Prices and Interest Rates

Securities Markets

Banking

Financial Crises

Filters