Exam 6: Measuring Economic Performance

What is the term for goods and services that are used in the production of other goods and services?

What does disposable income measure?

What is depreciation?

How is the expenditure method of measuring GDP calculated?

Which of the following is one result of a nation's imports exceeding its exports?

Country A had a bigger underground economy than country B,and country A's citizens worked fewer hours per week than the citizens of country B.Other things being equal,how would this impact GDP comparisons between the countries?

Which of the following is the most volatile GDP category under the expenditure approach?

What is the term for the measure of the income earned by owners of factors of production used in making final goods and services?

Which of the following is included in GDP calculations?

What does GDP calculate?

Which of the following is NOT part of Canadian GDP?

Which of the following best describes intermediate products?

Which of the following purchases is NOT included in the calculated GDP?

What does the expenditure measure of GDP accounting add together?

Economists believe that the Consumer Price Index tends to overstate the actual rate of inflation.

Under what conditions will nominal GDP always equal real GDP?

What is NOT in included in the expenditure approach to GDP accounting?

In some rural regions of Canada,residents harvest much of their food supplies directly from nature by hunting,fishing,and gathering.What impact do these subsistence activities have on GDP's estimate of the nation's production of goods and services?

What expenditure category of GDP would include the services rendered by a sergeant with the Royal Canadian Mounted Police?

By how much is gross domestic product greater than net domestic income at factor cost?