A) exports plus imports. B) exports minus imports. C) imports minus exports. D) GDP minus imports. A) exports plus imports. B) exports minus imports. C) imports minus exports. D) GDP minus imports.

A) exports plus imports. B) imports minus exports. C) Y - C + I + G). D) Y - C - I - G). A) exports plus imports. B) imports minus exports. C) Y - C + I + G). D) Y - C - I - G).

Exam 15: Measuring a Nations Income

Between 1929 and 1933, NNP measured in current prices fell from $96 billion to $48 billion. Over the same period, the relevant price index fell from 100 to 75. a. What was the percentage decline in nominal NNP from 1929 to1933? b. What was the percentage decline in real NNP from 1929 to 1933? Show your work.

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Question 1

Correct Answer:

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a. NNP measured in current prices is nominal NNP. Nominal NNP fell from $96billion to $48 billion, a decline of 50 percent.
b. Real NNP is nominal NNP divided by the price index and multiplied by 100. RealNNP in 1929 was $96 b/100) 100 = $96 b. Real NNP in 1933 was $48 b/75)100 = $64 b. Real NNP fell from $96 billion to $64 billion, a decline of 33 percent.

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

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Question 2

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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 nominal GDP was

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Question 3

Correct Answer:

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Macroeconomic statistics tell us about a particular household, firm, or market.

(True/False)

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Question 4

Which of the following is included in the investment component of GDP?

(Multiple Choice)

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Question 5

Table 23-11 The country of Batavia produces only chocolates and watches. Below is a table with recent information on Batavia production and prices. The base year is 2009. -Refer to Table 23-11. What was nominal GDP, real GDP, and the GDP deflator for 2011? Show your work.

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Question 6

Net exports equal

(Multiple Choice)

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Question 7

Which government entity computes U.S. GDP every three months?

(Multiple Choice)

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Question 8

Figure 23-1. -Refer to Figure 23-1. Which of the following pairs correctly identify W and Y?

(Multiple Choice)

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Question 9

In the circular flow diagram what are the three types of payments from firms to factors of production? Is the sum of these payments greater than, less than, or equal to GDP?

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Question 10

Suppose the government passes a law eliminating holidays and, as a result, the production of goods and services increases because people work more days per year and thus enjoy less leisure per year). Based on this scenario, which of the following statements is correct?

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Question 11

In 2009, the level of U.S. real GDP was close to four times its 1965 level.

(True/False)

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Question 12

In the economy of Talikastan in 2015, exports were $200, GDP was $2000, government purchases were $200, imports were $270, and investment was $500. What was Talikastan's consumption in 2015?

(Multiple Choice)

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Question 13

Gina, a U.S. citizen, works only in Bermuda. The value of Gina's production is included in

(Multiple Choice)

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Question 14

If real GDP is 5,100 and nominal GDP is 4,900, then the GDP deflator is

(Multiple Choice)

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Question 15

Which of the following items is included in U.S. GDP?

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Question 16

The government purchases component of GDP includes salaries paid to soldiers but not Social Security benefits paid to the elderly.

(True/False)

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Question 17

Net exports equal

(Multiple Choice)

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Question 18

Which of the following statements regarding GDP is correct?

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Question 19

Most goods whose purchases are included in the investment component of GDP are used to produce other goods in future periods.

(True/False)

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Question 20

Showing 1 - 20 of 522

Exam 15: Measuring a Nations Income

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

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 nominal GDP was

Macroeconomic statistics tell us about a particular household, firm, or market.

Which of the following is included in the investment component of GDP?

Table 23-11 The country of Batavia produces only chocolates and watches. Below is a table with recent information on Batavia production and prices. The base year is 2009. -Refer to Table 23-11. What was nominal GDP, real GDP, and the GDP deflator for 2011? Show your work.

Net exports equal

Which government entity computes U.S. GDP every three months?

Figure 23-1. -Refer to Figure 23-1. Which of the following pairs correctly identify W and Y?

In the circular flow diagram what are the three types of payments from firms to factors of production? Is the sum of these payments greater than, less than, or equal to GDP?

Suppose the government passes a law eliminating holidays and, as a result, the production of goods and services increases because people work more days per year and thus enjoy less leisure per year). Based on this scenario, which of the following statements is correct?

In 2009, the level of U.S. real GDP was close to four times its 1965 level.

In the economy of Talikastan in 2015, exports were $200, GDP was $2000, government purchases were $200, imports were $270, and investment was $500. What was Talikastan's consumption in 2015?

Gina, a U.S. citizen, works only in Bermuda. The value of Gina's production is included in

If real GDP is 5,100 and nominal GDP is 4,900, then the GDP deflator is

Which of the following items is included in U.S. GDP?

The government purchases component of GDP includes salaries paid to soldiers but not Social Security benefits paid to the elderly.

Net exports equal

Which of the following statements regarding GDP is correct?

Most goods whose purchases are included in the investment component of GDP are used to produce other goods in future periods.

Ten Principles of Economics

Thinking Like an Economist

Interdependence and the Gains From Trade

The Market Forces of Supply and Demand

Elasticity and Its Application

Supply, Demand, and Government Policies

Consumers, Producers, and the Efficiency of Markets

Application: The Costs of Taxation

Application: International Trade

Externalities

Public Goods and Common Resources

The Costs of Production

Firms in Competitive Markets

Monopoly

Measuring the Cost of Living

Production and Growth

Saving, Investment, and the Financial System

The Basic Tools of Finance

Unemployment

The Monetary System

Money Growth and Inflation

Aggregate Demand and Aggregate Supply

The Influence of Monetary and Fiscal Policy on Aggregate Demand

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