A) includes production of foreigners working in the U.S. and production of U.S. citizens working in foreign countries. B) includes production of foreigners working in the U.S. but excludes production of U.S. citizens working in foreign countries. C) excludes production of foreigners working in the U.S. but includes production by U.S. citizens working in foreign countries. D) excludes production of foreigners working in the U.S. and production by U.S. citizens working in foreign countries. A) includes production of foreigners working in the U.S. and production of U.S. citizens working in foreign countries. B) includes production of foreigners working in the U.S. but excludes production of U.S. citizens working in foreign countries. C) excludes production of foreigners working in the U.S. but includes production by U.S. citizens working in foreign countries. D) excludes production of foreigners working in the U.S. and production by U.S. citizens working in foreign countries.

Exam 5: Measuring a Nations Income

The U.S. buys $500 billion of goods and $250 billion of services from foreign countries. Foreign countries buy $250 billion of goods and $300 billion of services from the U.S. What is net exports?

(Short Answer)

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Question 301

In 2011 a country had a real GDP of $13.89 trillion and GDP deflator of 110. In 2012 it had a nominal GDP of $17.8 trillion and real GDP of 14.24 trillion. What is the rate of inflation in 2012?

(Short Answer)

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Question 302

Table 23-6 The table below contains data for the country of Batterland, which produces only waffles and pancakes. The base year is 2013. -Refer to Table 23-6. In 2010, this country's nominal GDP was

(Multiple Choice)

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Question 303

Table 23-2 The table below contains data for country A for the year 2010. -Refer to Table 23-2. What were country A's government purchases in 2010?

(Multiple Choice)

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Question 304

A recession is always associated with

(Multiple Choice)

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Question 305

Typically in countries with lower levels of real GDP person, a smaller percentage of the population is literate.

(True/False)

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Question 306

Table 23-2 The table below contains data for country A for the year 2010. -Refer to Table 23-2. What was country A's investment in 2010?

(Multiple Choice)

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Question 307

Changes in inventory are included in the investment component of GDP.

(True/False)

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Question 308

The government's purchases of goods but not its purchases of services are included in GDP.

(True/False)

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Question 309

The local car dealership has an increase in inventory of 100 newly produced cars in 2015. In 2016, it sells all 100 cars. Which of the following statements is correct?

(Multiple Choice)

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Question 310

GDP excludes most items that are produced and sold illegally and most items that are produced and consumed at home because

(Multiple Choice)

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Question 311

onsumer goods that are produced, go into inventory, and are not sold during the current period are

(Multiple Choice)

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Question 312

In a simple circular-flow diagram, firms

(Multiple Choice)

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Question 313

According to the circular-flow diagram, GDP

(Multiple Choice)

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Question 314

If consumption is $7000, exports are $600, government purchases are $2000, government transfers are $900, imports are $800, and investment is $1000, then GDP is $9,800.

(True/False)

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Question 315

U.S. GNP

(Multiple Choice)

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Question 316

Household spending on education is counted in which component or subcomponent of GDP?

(Multiple Choice)

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Question 317

U.S. GDP was almost $14 billion in 2009.

(True/False)

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Question 318

If the GDP deflator in 2009 was 150 and the GDP deflator in 2010 was 175, then the inflation rate in 2010 was 25%.

(True/False)

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Question 319

When studying changes in the economy over time, economists want a measure of the total quantity of goods and services the economy is producing that is not affected by changes in the prices of those goods and services. In other words, economists want to study

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Question 320

Showing 301 - 320 of 518

The U.S. buys $500 billion of goods and $250 billion of services from foreign countries. Foreign countries buy $250 billion of goods and $300 billion of services from the U.S. What is net exports?

In 2011 a country had a real GDP of $13.89 trillion and GDP deflator of 110. In 2012 it had a nominal GDP of $17.8 trillion and real GDP of 14.24 trillion. What is the rate of inflation in 2012?

Table 23-6 The table below contains data for the country of Batterland, which produces only waffles and pancakes. The base year is 2013. -Refer to Table 23-6. In 2010, this country's nominal GDP was

Table 23-2 The table below contains data for country A for the year 2010. -Refer to Table 23-2. What were country A's government purchases in 2010?

A recession is always associated with

Typically in countries with lower levels of real GDP person, a smaller percentage of the population is literate.

Table 23-2 The table below contains data for country A for the year 2010. -Refer to Table 23-2. What was country A's investment in 2010?

Changes in inventory are included in the investment component of GDP.

The government's purchases of goods but not its purchases of services are included in GDP.

The local car dealership has an increase in inventory of 100 newly produced cars in 2015. In 2016, it sells all 100 cars. Which of the following statements is correct?

GDP excludes most items that are produced and sold illegally and most items that are produced and consumed at home because

onsumer goods that are produced, go into inventory, and are not sold during the current period are

In a simple circular-flow diagram, firms

According to the circular-flow diagram, GDP

If consumption is $7000, exports are $600, government purchases are $2000, government transfers are $900, imports are $800, and investment is $1000, then GDP is $9,800.

U.S. GNP

Household spending on education is counted in which component or subcomponent of GDP?

U.S. GDP was almost $14 billion in 2009.

If the GDP deflator in 2009 was 150 and the GDP deflator in 2010 was 175, then the inflation rate in 2010 was 25%.

When studying changes in the economy over time, economists want a measure of the total quantity of goods and services the economy is producing that is not affected by changes in the prices of those goods and services. In other words, economists want to study

Ten Principles of Economics

Thinking Like an Economist

Interdependence and the Gains From Trade

The Market Forces of Supply and Demand

Measuring the Cost of Living

Production and Growth

Saving, Investment, and the Financial System

The Basic Tools of Finance

Unemployment and Its Natural Rate

The Monetary System

Money Growth and Inflation

Open-Economy Macroeconomics: Basic Concepts

A Macroeconomic Theory of the Open Economy

Aggregate Demand and Aggregate Supply

The Influence of Monetary and Fiscal Policy on Aggregate Demand

The Short-Run Tradeoff Between Inflation and Unemployment

Six Debates Over Macroeconomic Policy

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