Exam 12: GDP: Measuring Total Production and Income

One of the results of Paul Romer's new growth theory is that investment in research and development will be too low in an economy.Explain how he comes to this conclusion.

(Essay)

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Question 61

Workers in countries have to work with than do workers in low income countries.

(Multiple Choice)

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Question 62

Consumption expenditures do not include household purchases of

(Multiple Choice)

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Question 63

If there is a change in the ability of a firm to produce a given level of output with a given level of inputs,we say there is

(Multiple Choice)

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Question 64

Which of the following transactions would be included in the official calculation of GDP?

(Multiple Choice)

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Question 65

When the capital stock per hour worked

(Multiple Choice)

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Question 66

Which of the following is not included in the measurement of the net exports component of GDP?

(Multiple Choice)

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Question 67

The size of the underground economy as a percentage of GDP is larger in Australia than in poorer countries such as Zimbabwe.

(True/False)

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Question 68

What is 'human capital'?

(Multiple Choice)

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Question 69

If prices are rising on average,then real GDP will

(Multiple Choice)

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Question 70

If an Australian firm produces televisions in Taiwan,that production should count toward

(Multiple Choice)

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Question 71

The GDP deflator is a measure of the price level which is calculated as nominal GDP divided by real GDP and multiplied by 100.

(True/False)

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Question 72

Because knowledge capital is non-excludable and non-rival,firms have an incentive to ________ the research and development of other firms.

(Multiple Choice)

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Question 73

Which of the following would increase gross private domestic investment in an economy?

(Multiple Choice)

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Question 74

Transfer payments are not included in GDP because

(Multiple Choice)

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Question 75

The following describes the value added in the production of a litre of petrol by each stage of production.(The values are hypothetical,and there are no excise taxes or sales taxes.) a. What is the value added by each stage of production? b. What is the total value added? For simplicity,you can ignore the cost of the inputs for oil drilling.

(Essay)

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Question 76

Which component of investment spending was the largest in Australia in 2012/13?

(Multiple Choice)

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Question 77

When the Australian Bureau of Statistics (ABS)calculates real GDP using the average of prices in the current year and the year preceding it,and this average changes from year to year,this is called calculating GDP using

(Multiple Choice)

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Question 78

Macroeconomics involves the economic issues of

(Multiple Choice)

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Question 79

An increase in shifts the production function,and makes it possible to produce a higher level of GDP with capital per hour worked.

(Multiple Choice)

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Question 80

Showing 61 - 80 of 200

One of the results of Paul Romer's new growth theory is that investment in research and development will be too low in an economy.Explain how he comes to this conclusion.

Workers in countries have to work with than do workers in low income countries.

Consumption expenditures do not include household purchases of

If there is a change in the ability of a firm to produce a given level of output with a given level of inputs,we say there is

Which of the following transactions would be included in the official calculation of GDP?

When the capital stock per hour worked

Which of the following is not included in the measurement of the net exports component of GDP?

The size of the underground economy as a percentage of GDP is larger in Australia than in poorer countries such as Zimbabwe.

What is 'human capital'?

If prices are rising on average,then real GDP will

If an Australian firm produces televisions in Taiwan,that production should count toward

The GDP deflator is a measure of the price level which is calculated as nominal GDP divided by real GDP and multiplied by 100.

Because knowledge capital is non-excludable and non-rival,firms have an incentive to ________ the research and development of other firms.

Which of the following would increase gross private domestic investment in an economy?

Transfer payments are not included in GDP because

Which component of investment spending was the largest in Australia in 2012/13?

When the Australian Bureau of Statistics (ABS)calculates real GDP using the average of prices in the current year and the year preceding it,and this average changes from year to year,this is called calculating GDP using

Macroeconomics involves the economic issues of

An increase in shifts the production function,and makes it possible to produce a higher level of GDP with capital per hour worked.

Economics: Foundations and Models

Trade-Offs, comparative Advantage, and the Market System

Where Prices Come From: the Interaction of Demand and Supply

Market Efficiency and Market Failure

The Economics of Healthcare

Firms,the Stock Market,and Corporate Governance

Consumer Choice and Elasticity

Technology, production, and Costs

Firms in Perfectly Competitive Markets

Monopoly and Antitrust

Monopolistic Competition and Oligopoly

Unemployment and Inflation

Economic Growth, the Financial System and Business Cycles

Aggregate Demand and Aggregate Supply Analysis

Money, banks, and the Federal Reserve System

Monetary Policy

Fiscal Policy

Comparative Advantage, international Trade, and Exchange Rates

Filters

Exam 12: GDP: Measuring Total Production and Income

One of the results of Paul Romer's new growth theory is that investment in research and development will be too low in an economy.Explain how he comes to this conclusion.

Workers in ________ countries have ________ to work with than do workers in low income countries.

Consumption expenditures do not include household purchases of

If there is a change in the ability of a firm to produce a given level of output with a given level of inputs,we say there is

Which of the following transactions would be included in the official calculation of GDP?

When the capital stock per hour worked

Which of the following is not included in the measurement of the net exports component of GDP?

The size of the underground economy as a percentage of GDP is larger in Australia than in poorer countries such as Zimbabwe.

What is 'human capital'?

If prices are rising on average,then real GDP will

If an Australian firm produces televisions in Taiwan,that production should count toward

The GDP deflator is a measure of the price level which is calculated as nominal GDP divided by real GDP and multiplied by 100.

Because knowledge capital is non-excludable and non-rival,firms have an incentive to ________ the research and development of other firms.

Which of the following would increase gross private domestic investment in an economy?

Transfer payments are not included in GDP because

Which component of investment spending was the largest in Australia in 2012/13?

When the Australian Bureau of Statistics (ABS)calculates real GDP using the average of prices in the current year and the year preceding it,and this average changes from year to year,this is called calculating GDP using

Macroeconomics involves the economic issues of

An increase in ________ shifts ________ the production function,and makes it possible to produce a higher level of GDP with ________ capital per hour worked.

Economics: Foundations and Models

Trade-Offs, comparative Advantage, and the Market System

Where Prices Come From: the Interaction of Demand and Supply

Market Efficiency and Market Failure

The Economics of Healthcare

Firms,the Stock Market,and Corporate Governance

Consumer Choice and Elasticity

Technology, production, and Costs

Firms in Perfectly Competitive Markets

Monopoly and Antitrust

Monopolistic Competition and Oligopoly

Unemployment and Inflation

Economic Growth, the Financial System and Business Cycles

Aggregate Demand and Aggregate Supply Analysis

Money, banks, and the Federal Reserve System

Monetary Policy

Fiscal Policy

Comparative Advantage, international Trade, and Exchange Rates

Filters

Workers in countries have to work with than do workers in low income countries.

An increase in shifts the production function,and makes it possible to produce a higher level of GDP with capital per hour worked.