Exam 7: Gdp and the Cpi: Tracking the Macroeconomy

Use the following to answer questions: -(Figure 7-1: Circular-Flow Model)Use Figure 7-1: Circular-Flow Model.If the circular-flow model is in equilibrium (the sum of money flowing into each box is equal to the sum of the money flowing out of it)and there is a decrease in consumer spending,holding everything else constant,which outcome is likely to occur?

(Multiple Choice)

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Question 41

Real GDP is the same as _____ GDP.

(Multiple Choice)

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Question 42

In Canada,investment spending accounts for approximately _____% of GDP.

(Multiple Choice)

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Question 43

The circular-flow diagram is important because it shows that the flow of money into each market or sector of the economy is _____ the flow of money coming out of that sector.

(Multiple Choice)

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Question 44

Aggregate output is the sum of consumer spending on goods and services and investment spending by firms.

(True/False)

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Question 45

Which item is included in GDP?

(Multiple Choice)

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Question 46

Which equation is the BEST one for GDP?

(Multiple Choice)

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Question 47

Households supply resources in the factor markets.

(True/False)

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Question 48

Don is a builder and in his free time he has built an addition to his own house.This transaction will:

(Multiple Choice)

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Question 49

Use the following to answer questions: -(Table: Pizza Economy III)Use Table: Pizza Economy III.Considering 2010 as the base year,nominal GDP in 2011 was:

(Multiple Choice)

4.7/5

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Question 50

If the consumer price index is 180 in year 1 and 190 in year 2,the inflation rate between year 1 and year 2 is about:

(Multiple Choice)

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Question 51

Use the following to answer questions: -(Figure 7-2: Expanded Circular-Flow Model)Use Figure 7-2: Expanded Circular-Flow Model.What is the value of disposable income?

(Multiple Choice)

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Question 52

Aggregate output is the total quantity of intermediate goods and services produced in a year.

(True/False)

4.9/5

(41)

Question 53

The industrial producer price index usually responds to price changes more quickly than the consumer price index.

(True/False)

4.9/5

(41)

Question 54

Use the following to answer questions: -(Table: Lemonade and Cookies)Use Table: Lemonade and Cookies.Assume that an economy produces only lemonade and cookies.If 2014 is the base year,real GDP in 2013 was:

(Multiple Choice)

4.8/5

(33)

Question 55

Use the following to answer questions: -(Table: Lemonade and Cookies)Use Table: Lemonade and Cookies.Assume that an economy produces only lemonade and cookies.If 2013 is the base year,real GDP in 2013 was:

(Multiple Choice)

4.8/5

(42)

Question 56

Households demand resources in the factor markets.

(True/False)

4.9/5

(39)

Question 57

Which item would NOT be included in this year's GDP?

(Multiple Choice)

4.9/5

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Question 58

Use the following to answer question : -(Table: GDP)According to the information in Table: GDP.GDP in the table is:

(Multiple Choice)

5.0/5

(32)

Question 59

Disposable income equals:

(Multiple Choice)

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Question 60

Showing 41 - 60 of 321

Real GDP is the same as _____ GDP.

In Canada,investment spending accounts for approximately _____% of GDP.

The circular-flow diagram is important because it shows that the flow of money into each market or sector of the economy is _____ the flow of money coming out of that sector.

Aggregate output is the sum of consumer spending on goods and services and investment spending by firms.

Which item is included in GDP?

Which equation is the BEST one for GDP?

Households supply resources in the factor markets.

Don is a builder and in his free time he has built an addition to his own house.This transaction will:

Use the following to answer questions: -(Table: Pizza Economy III)Use Table: Pizza Economy III.Considering 2010 as the base year,nominal GDP in 2011 was:

If the consumer price index is 180 in year 1 and 190 in year 2,the inflation rate between year 1 and year 2 is about:

Use the following to answer questions: -(Figure 7-2: Expanded Circular-Flow Model)Use Figure 7-2: Expanded Circular-Flow Model.What is the value of disposable income?

Aggregate output is the total quantity of intermediate goods and services produced in a year.

The industrial producer price index usually responds to price changes more quickly than the consumer price index.

Use the following to answer questions: -(Table: Lemonade and Cookies)Use Table: Lemonade and Cookies.Assume that an economy produces only lemonade and cookies.If 2014 is the base year,real GDP in 2013 was:

Use the following to answer questions: -(Table: Lemonade and Cookies)Use Table: Lemonade and Cookies.Assume that an economy produces only lemonade and cookies.If 2013 is the base year,real GDP in 2013 was:

Households demand resources in the factor markets.

Which item would NOT be included in this year's GDP?

Use the following to answer question : -(Table: GDP)According to the information in Table: GDP.GDP in the table is:

Disposable income equals:

First Principles

Economic Models: Trade-Offs and Trade

Supply and Demand

Price Controls and Quotas: Meddling With Markets

International Trade

Macroeconomics: the Big Picture

Unemployment and Inflation

Long-Run Economic Growth

Savings, Investment Spending, and the Financial System

Income and Expenditure

Aggregate Demand and Aggregate Supply

Fiscal Policy

Money, Banking, and the Federal Reserve System

Monetary Policy

Inflation, Disinflation, and Deflation

Macroeconomics: Events and Ideas

International Macroeconomics

Graphs in Economics

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