Question 1

If in the same period output doubles and the price level remains the same,nominal GDP doubles.

Accepted Answer

A) True 
 B)False

Question 2

Related to the Economics in Practice on p.427: If a Swiss dealer sells a newly produced Swiss watch on eBay to a U.S.customer,the value of the watch is

Accepted Answer

A) counted in U.S.GDP. 
B) counted in U.S.GDP and Swiss GDP. 
C) counted in Swiss GDP. 
D) not counted in either U.S.or Swiss GDP. 
A) counted in U.S.GDP. 
B) counted in U.S.GDP and Swiss GDP. 
C) counted in Swiss GDP. 
D) not counted in either U.S.or Swiss GDP.

Question 3

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 net exports in billions of dollars is

Accepted Answer

A) 150. 
B) 250. 
C) 650. 
D) 800. 
A) 150. 
B) 250. 
C) 650. 
D) 800.

Question 4

If gross investment in 2013 is $200 billion and depreciation in 2013 is $1,000 billion,net investment in 2013 is

Accepted Answer

A) -$900 billion. 
B) -$800 billion. 
C) $1,000 billion. 
D) $1,200 billion. 
A) -$900 billion. 
B) -$800 billion. 
C) $1,000 billion. 
D) $1,200 billion.

Question 5

Refer to the information provided in Table 6.4 below to answer the questions that follow.
Table 6.4  
-Refer to Table 6.4.The value for disposable personal income in billions of dollars is

Accepted Answer

A) 750. 
B) 770. 
C) 820. 
D) 990. 
A) 750. 
B) 770. 
C) 820. 
D) 990.

Question 6

A weakness in the concept of GDP is that it ignores income distribution.

Accepted Answer

A) True 
 B)False

If in the same period output doubles and the price level remains the same,nominal GDP doubles.

Related to the Economics in Practice on p.427: If a Swiss dealer sells a newly produced Swiss watch on eBay to a U.S.customer,the value of the watch is

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 net exports in billions of dollars is

If gross investment in 2013 is $200 billion and depreciation in 2013 is $1,000 billion,net investment in 2013 is

Refer to the information provided in Table 6.4 below to answer the questions that follow. Table 6.4 -Refer to Table 6.4.The value for disposable personal income in billions of dollars is

A weakness in the concept of GDP is that it ignores income distribution.

The Scope and Method of Economics

The Economic Problem: Scarcity and Choice

Demand,supply,and Market Equilibrium

Demand and Supply Applications

Introduction to Macroeconomics

Unemployment, inflation, and Long-Run Growth

Aggregate Expenditure and Equilibrium Output

The Government and Fiscal Policy

The Money Supply and the Federal Reserve System

Money Demand and the Equilibrium Interest Rate

The Determination of Aggregate Output, the Price Level, and the Interest Rate

Policy Effects and Costs Shocks in the Asad Model

The Labor Market in the Macroeconomy

Financial Crises, stabilization, and Deficits

Household and Firm Behavior in the Macroeconomy: a Further Look

Long-Run Growth

Alternative Views in Macroeconomics

International Trade,comparative Advantage,and Protectionism

Open-Economy Macroeconomics: the Balance of Payments and Exchange Rates

Economic Growth in Developing and Transitional Economies

Filters

Exam 6: Measuring National Output and National Income

If in the same period output doubles and the price level remains the same,nominal GDP doubles.

Related to the Economics in Practice on p.427: If a Swiss dealer sells a newly produced Swiss watch on eBay to a U.S.customer,the value of the watch is

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 net exports in billions of dollars is

If gross investment in 2013 is $200 billion and depreciation in 2013 is $1,000 billion,net investment in 2013 is

Refer to the information provided in Table 6.4 below to answer the questions that follow. Table 6.4 -Refer to Table 6.4.The value for disposable personal income in billions of dollars is

A weakness in the concept of GDP is that it ignores income distribution.

The Scope and Method of Economics

The Economic Problem: Scarcity and Choice

Demand,supply,and Market Equilibrium

Demand and Supply Applications

Introduction to Macroeconomics

Unemployment, inflation, and Long-Run Growth

Aggregate Expenditure and Equilibrium Output

The Government and Fiscal Policy

The Money Supply and the Federal Reserve System

Money Demand and the Equilibrium Interest Rate

The Determination of Aggregate Output, the Price Level, and the Interest Rate

Policy Effects and Costs Shocks in the Asad Model

The Labor Market in the Macroeconomy

Financial Crises, stabilization, and Deficits

Household and Firm Behavior in the Macroeconomy: a Further Look

Long-Run Growth

Alternative Views in Macroeconomics

International Trade,comparative Advantage,and Protectionism

Open-Economy Macroeconomics: the Balance of Payments and Exchange Rates

Economic Growth in Developing and Transitional Economies

Filters