Exam 5: Spending and Output in the Short Run

In recent years,Statistics Canada has released two special (supplementary)unemployment rates that include estimates of the number of discouraged and part-time workers.The official unemployment rate,along with the two supplementary rates,is shown in the chart for the period 1997 to 2006. -If discouraged workers were counted as unemployed,then all of the following would be true EXCEPT

Comparisons of GDP levels across countries are __________ accurate when the value of non-market activities ___________ across countries.

The following table shows the production and prices of an economy's only two goods,TVs and computers,in 2003 and 2009.Assume that 2003 is the base year. -The GDP deflator for 2009 is

Capital goods are

The fact that gross national product is less than gross domestic product in Canada indicates that

The number of people unemployed and employed equals the

Arguments against replacing GDP with a broader measure of living standards include all of the following EXCEPT

Which of the following would increase the government purchases component of Canada's GDP?

Bob's Barber Shop gave 3,000 haircuts in the year 2011 and 3,100 in the year 2012.The price of a haircut was $7 in 2011 and $8 in 2012.If the year 2011 is the base year,what was Bob's contribution to nominal GDP in the year 2012?

If an automobile manufacturer pays $200 for a car windshield,$400 for four car tires,$100 for a car CD player,and sells cars made with these parts for $20,000,then each car the automobile manufacturer sells contributes how much to GDP?

_________ is/are the market value of final goods and services produced within a country during a given period of time.

An economy produces only 500,000 tables valued at $100 each.Of these,100,000 are sold to consumers,200,000 are sold to businesses,100,000 are sold to the government,and 50,000 are sold abroad.No tables are imported.The unsold tables at the end of the year are held in inventory by the table manufacturers.What is the value of the private-sector investment component of GDP?

Over the 1992-2010 period,Canadian gross national product was __________ Canadian gross domestic product.

Data for an economy show that the unemployment rate is 10%,the participation rate is 80%,and 200 million people 15 years or older are not in the labour force.How many people are in the working-age population in this economy?

An economy produces 500,000 tables valued at $100 each.Households purchase 100,000 tables,of which 50,000 are imported.Businesses purchase 200,000 domestically-produced tables.The government purchases 100,000 domestically-produced tables,and 50,000 domestically-produced tables are sold abroad.The unsold tables at the end of the year are held in inventory by the table manufacturers.What is the value of GDP?

Given the following data for an economy,compute the private-sector investment component of GDP.

In a small town of 100 people,there are 10 children under 15,10 retired people,60 people with full-time jobs,3 people with part-time jobs,3 full-time students aged 15 and over,and 4 full-time homemakers.The remaining people do not have jobs,but want them.All but one of these has actively looked for a job in the last four weeks.How many people are in the labour force in this town?

The following table shows the production and prices of an economy's only two goods,TVs and computers,in 2003 and 2009.Assume that 2003 is the base year. -What is the growth in real GDP over the period from 2003 to 2009?

A jar of orange marmalade,ultimately sold to a customer at The Corner Store,is produced by the following production process: -What is the value added of Citrus Growers Inc.?

Changes in business inventories are