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

A) the market value of all final goods and services produced within a country in a given period of time. B) Y. C) C + I + G + NX. D) All of the above are correct. A) the market value of all final goods and services produced within a country in a given period of time. B) Y. C) C + I + G + NX. D) All of the above are correct.

Exam 5: Measuring a Nations Income

Wholesome Wheat Bakery buys $10.00 worth of flour from Mikes' Mill and uses the flour to make bread. Wholesome Wheat sells the bread to the public for $22.00. Taking these two transactions into account, what is the effect on GDP?

(Multiple Choice)

4.8/5

(35)

Question 321

Real GDP will increase

(Multiple Choice)

4.8/5

(41)

Question 322

What are transfer payments, and how do they affect the calculation of GDP?

(Essay)

4.8/5

(36)

Question 323

Alexandria, a British citizen, owns and manages a fish and chips shop in Washington, D.C. She buys fresh food produced by U.S. workers, pays utilities to a U.S. company, and employs only U.S. citizens. What part, if any, of the restaurant's production is included in U.S. GDP? What part, if any, of the restaurant's production is included in U.S. GNP?

(Essay)

4.8/5

(40)

Question 324

Estimates of the values of which of the following non-market goods or services are included in GDP?

(Multiple Choice)

4.8/5

(33)

Question 325

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 2011, this country's real GDP was

(Multiple Choice)

4.9/5

(36)

Question 326

For an economy as a whole,

(Multiple Choice)

4.9/5

(42)

Question 327

Table 23-1 The table below contains data for Chereaux for the year 2015. -Refer to Table 23-1. Disposable personal income for Chereaux in 2015 is

(Multiple Choice)

4.8/5

(38)

Question 328

The city of Ann Arbor Michigan buys a police car manufactured in Germany. In the GDP accounts this transaction is included in

(Multiple Choice)

4.9/5

(38)

Question 329

If an economy's GDP falls, then it must be the case that the economy's

(Multiple Choice)

4.9/5

(33)

Question 330

U.S. GDP

(Multiple Choice)

4.8/5

(42)

Question 331

Write the formula for calculating a GDP deflator using only nominal and real GDP.

(Essay)

4.8/5

(40)

Question 332

Gross domestic product measures

(Multiple Choice)

5.0/5

(44)

Question 333

Suppose an economy produces only burgers and bags of fries. In 2010, 4000 burgers are sold at $3 each and 6000 bags of fires are sold at $1.50 each. In 2008, the base year, burgers sold for $2.50 each and bags of fries sold for $2 each.

(Multiple Choice)

4.8/5

(43)

Question 334

Suppose an economy's production consists only of corn and soybeans. In 2010, 20 bushels of corn are sold at $4 per bushel and 10 bushels of soybeans are sold at $2 per bushel. In 2009, the price of corn was $2 per bushel and the price of soybeans was $1 per bushel. Using 2009 as the base year, it follows that, for 2010,

(Multiple Choice)

4.7/5

(32)

Question 335

In years of economic contraction, firms throughout the economy increase their production of goods and services, employment rises, and jobs are easy to find.

(True/False)

4.7/5

(27)

Question 336

Table 23-8 A country produces only meat and potatoes in the quantities and prices listed below. Use 2011 as the base year. -Refer to Table 23-8. In 2012, nominal GDP is

(Multiple Choice)

4.9/5

(42)

Question 337

Suppose an economy produces only cheese and fish. In 2010, 20 units of cheese are sold at $5 each and 8 units of fish are sold at $50 each. In 2009, the base year, the price of cheese was $10 per unit and the price of fish was $75 per unit. For 2010,

(Multiple Choice)

4.9/5

(35)

Question 338

GDP is equal to

(Multiple Choice)

4.9/5

(33)

Question 339

If in some year nominal GDP was $18 billion and the GDP deflator was 120, what was real GDP?

(Multiple Choice)

4.9/5

(28)

Question 340

Showing 321 - 340 of 518

Wholesome Wheat Bakery buys $10.00 worth of flour from Mikes' Mill and uses the flour to make bread. Wholesome Wheat sells the bread to the public for $22.00. Taking these two transactions into account, what is the effect on GDP?

Real GDP will increase

What are transfer payments, and how do they affect the calculation of GDP?

Estimates of the values of which of the following non-market goods or services are included in GDP?

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 2011, this country's real GDP was

For an economy as a whole,

Table 23-1 The table below contains data for Chereaux for the year 2015. -Refer to Table 23-1. Disposable personal income for Chereaux in 2015 is

The city of Ann Arbor Michigan buys a police car manufactured in Germany. In the GDP accounts this transaction is included in

If an economy's GDP falls, then it must be the case that the economy's

U.S. GDP

Write the formula for calculating a GDP deflator using only nominal and real GDP.

Gross domestic product measures

Suppose an economy produces only burgers and bags of fries. In 2010, 4000 burgers are sold at $3 each and 6000 bags of fires are sold at $1.50 each. In 2008, the base year, burgers sold for $2.50 each and bags of fries sold for $2 each.

In years of economic contraction, firms throughout the economy increase their production of goods and services, employment rises, and jobs are easy to find.

Table 23-8 A country produces only meat and potatoes in the quantities and prices listed below. Use 2011 as the base year. -Refer to Table 23-8. In 2012, nominal GDP is

Suppose an economy produces only cheese and fish. In 2010, 20 units of cheese are sold at $5 each and 8 units of fish are sold at $50 each. In 2009, the base year, the price of cheese was $10 per unit and the price of fish was $75 per unit. For 2010,

GDP is equal to

If in some year nominal GDP was $18 billion and the GDP deflator was 120, what was real GDP?

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

Filters