Exam 5: Gdp: a Measure of Total Production and Income

Last year in Candamica, consumption expenditure was $20 billion, interest, rent, and profit were $2.5 billion, government expenditure on goods and services was $7 billion, net exports of goods and services was $5 billion, and investment was $2 billion.Hence total expenditure was

Last year for a nation to the south, net domestic product at factor cost equaled $3,300 billion.Indirect taxes minus subsidies equaled $200 billion, depreciation equaled $800 billion, the statistical discrepancy equaled zero, and net operating surplus equaled $150 billion.The country's GDP was

Mexico City is notorious for its excessive pollution.Mexico's measure of GDP is

Which of the following is NOT included in the expenditure approach to calculating GDP?

What are the categories of expenditure used in the expenditure approach to measuring GDP?

The sum of all the income categories listed in the National Income and Product Accounts adds up to

What is the Human Development Index?

Excluding household and underground production leads to

Investment is defined as

Total expenditure equals

The Human Development Index was proposed because

Which of the following is true regarding the measurement of GDP?

Data for 2009 Data for 2010 $\text { Item }$ $\text { Bread }$ $\text { Soda }$ Quantity Price Quantity Price 50 \ 4.00 70 \ 3.00 50 \ 5.00 50 \ 6.00 -The table above gives the production and prices for a small nation that produces only bread and soda.The base year is 2010.What is real GDP in 2010?

Are stocks and bonds considered part of the investment component of GDP?

If nominal GDP increases from one year to the next, then

You hire some of your friends to help you move to a new house.You pay them a total of $200 and buy them dinner at Pizza Hut.Which of the following is true?

Assume a small nation has the following statistics: its consumption expenditure is $15 million, investment is $2 million, government expenditure on goods and services is $1 million, exports of goods and services to foreigners is $1 million, and imports of goods and services from foreigners is $1.5 million.Calculate this nation's GDP.

The purchase of 500 shares of Honda stock by the California State Employees' Pension fund

Net exports of goods and services are defined as the

In 2009 in the United States, consumption expenditure was $9,996 billion, investment was $1,559 billion, government expenditures on goods and services were $2,927 billion, and total exports were $1,492 billion.GDP equaled