Exam 2: The Data of Macroeconomics

The employment statistics computed from the establishment survey do not include:

The labor-force participation rate is the percentage of the:

In the United States since the end of World War II:

In the national income accounts, the purchase of durables, nondurables, and services by households are classified as:

GNP equals GDP income earned domestically by foreigners income that nationals earn abroad.

If the unemployment rate is 6 percent and the number of employed is 188 million, then the labor force equals million.

An example of an imputed value in the GDP is the:

If GDP (measured in billions of current dollars) is $5,465, consumption is $3,657, investment is $741, and net exports are -$1,910, then government purchases are:

When prices of different goods are increasing by different amounts, the price index that will rise the fastest is:

The new chain-weighted measures of real GDP are an improvement over traditional measures because the prices used to compute real GDP are:

Assume that the market basket of goods and services purchased in 2004 by the average family in the United States costs $14,000 in 2004 prices, whereas the same basket costs $21,000 in 2009 prices. However, the basket of goods and services actually purchased by the average family in 2009 costs $20,000 in 2009 prices, whereas this same basket would have cost $15,000 in 2004 prices. Given this data, a Laspeyres price index of 2009 prices using 2004 as the base year would be:

Which of the following is a stock variable?

According to the definition used by the U.S. Bureau of Labor Statistics, a person is not in the labor force if that person:

When a firm sells a product out of inventory, investment expenditures and consumption expenditures .

Nominal GDP is measured in dollars time.

If GDP (measured in billions of current dollars) is $5,465, consumption is $3,657, investment is $741, and government purchases are $1,098, then net exports are:

In 2010, GDP per person in the United States was approximately:

Assume that apples cost $0.50 in 2002 and $1 in 2009, whereas oranges cost $1 in 2002 and $1.50 in 2009. If 4 apples were produced in 2002 and 5 in 2009, whereas 3 oranges were produced in 2002 and 4 in 2009, then real GDP (in 2002 prices) in 2009 was:

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 .

It is a national income accounting rule that all expenditure on purchases of products is necessarily equal to: