Exam 15: Measuring a Nations Income

In the economy of Talikastan in 2015, consumption was $3000, exports were $1200, GDP was $6300, government purchases were $1300, and investment was $1500. What were Talikastan's imports in 2015?

Countries with low GDP per person tend to have

Real GDP is the yearly production of final goods and services valued at

The inflation rate is the

National income differs from net national because

Which of the following subcomponents of GDP can be either positive or negative?

International studies of the relationship between GDP per person and quality of life measures such as life expectancy and literacy rates show that larger GDP per person is associated with

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 2012, this country's GDP deflator was

International data on GDP and socioeconomic variables

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. From 2012 to 2013, this country's output grew

Table 23-1 The table below contains data for Chereaux for the year 2015. -Refer to Table 23-1. Gross national product for Chereaux in 2015 is

The information for 2008 in millions in the table below was reported by the World Bank. On the basis of this information, which list below contains the correct ordering of real GDP per person from highest to lowest?

A U.S.-owned car factory in Mexico produces $5 million of cars. $2.5 million of these cars are sold in Mexico and the other $2.5 million are sold in the U.S. In both cases $1 million of the value of the cars was due to U.S-owned equipment located in Mexico and U.S. managers working in Mexico. How much did this production contribute to U.S. GDP?

The basic tools of supply and demand are central to microeconomic analysis but are of little use to macroeconomics.

If nominal GDP is $10 trillion and real GDP is $8 trillion, then the GDP deflator is

Over the last few decades, Americans have chosen to cook less at home and eat more at restaurants. This change in behavior, by itself, has

Expenditures by households on education are included in the investment component of GDP.

Explain how real GDP differs from nominal GDP.

For the economy as a whole,

Which of the following values would be included in U.S. GDP for 2015?