Exam 7: Macroeconomic Measurements, part II: GDP and Real GDP

Look at the following data: GDP = $11,920 billion;investment = $2,100 billion;exports = $500 billion;government purchases = $1,450 billion;consumption = $8,500 billion.What does import spending equal?

Suppose that net exports are -$300 billion and exports are $500 billion.Imports must be equal to

An example of income earned but not received is corporate dividends.

In 1900,the country with the highest per capita GDP was

Capital consumption allowance refers to

Look at the following data: personal income = $4,900 billion;personal taxes = $900 billion;transfer payments = $980 billion.What is disposable income?

In the United States,which is the largest dollar figure?

If GDP in year 1 is the same dollar amount as the GDP in year 2,does it follow that Real GDP in year 1 is the same as Real GDP in year 2?

What does annual economic growth refer to?

In 2013,the U.S.GDP was approximately

An economy produces 10X,20Y,and 30Z in a year.Base-year prices for these goods are $1,$2,and $3,respectively.Current-year prices for these goods are $2,$3,and $4,respectively.What is Real GDP?

Suppose that inventory investment is $20 billion and (total)investment is $680 billion.What does purchases of newly produced capital goods equal?

You have data for compensation of employees,proprietors' income,rental income,and net interest.Can you compute national income?

Suppose that in year 1 every adult in the country works 40 hours a week and GDP is $6.7 trillion.In year 2 every adult in the country works 45 hours a week and GDP is $7.5 trillion.Which of the following statements is true?

Real GDP is always measured in

Is it possible for a country with a relatively large GDP to have a relatively small per-capita GDP?

Sophia just bought shares of IBM stock for $20,000 and paid a $300 commission to her broker.How did this impact GDP?

A business cycle refers to the

Which of the following statements is false?

Gross Domestic Product is computed by using