Exam 6: Measuring National Output and National Income

Refer to the information provided in Table 6.1 below to answer the questions that follow. Table 6.1 -Refer to Table 6.1.The value for gross private domestic investment in billions of dollars is

Related to the Economics in Practice on p.427: The value of the used goods sold on eBay from a U.S.seller to a U.S.buyer is

If national income is $600 billion,personal income is $400 billion,personal taxes are $120 billion,then disposable income equals

Which of the following is a good or service counted in GDP?

Fixed weight indexes can not account for new goods.

The GDP deflator in year 2 is 110 and the GDP deflator in year 3 is 118.The rate of inflation between years 2 and 3 is

Refer to the information provided in Table 6.2 below to answer the questions that follow. Table 6.2 -Refer to Table 6.2.Personal consumption expenditures in billions of dollars are

Refer to the information provided in Table 6.3 below to answer the questions that follow. Table 6.3 -Refer to Table 6.3.The value of net factor payments to the rest of the world is

The change in capital stock in a period is equal to

The personal saving rate is

In 2012,GDP was exactly equal to final sales.This implies that

What type of tax affects the amount of money you pay for a product?

Net investment is

Refer to the information provided in Table 6.3 below to answer the questions that follow. Table 6.3 -Refer to Table 6.3.The value for national income in billions of dollars is

Which of the following is NOT counted in the GNP of the United States?

If net investment in 2012 is $350 billion and gross investment in 2012 is $500 billion,depreciation in 2012 is

Related to the Economics in Practice on p.431: ________ is responsible for producing and maintaining the National Income and Product Accounts (NIPAs).

Nominal GDP measures the value of all goods and services

Gross domestic product measured in terms of the prices of a fixed,or base,year is

GDP measured in base year prices is real GDP.