Chat with AIExam 6: Measuring National Output and National Income
Exam 1: The Scope and Method of Economics238 Questions
Exam 2: The Economic Problem: Scarcity and Choice220 Questions
Exam 3: Demand, Supply, and Market Equilibrium298 Questions
Exam 4: Demand and Supply Applications173 Questions
Exam 5: Introduction to Macroeconomics241 Questions
Exam 6: Measuring National Output and National Income292 Questions
Exam 7: Unemployment, Inflation, and Long-Run Growth297 Questions
Exam 8: Aggregate Expenditure and Equilibrium Output355 Questions
Exam 9: The Government and Fiscal Policy362 Questions
Exam 10: Money, the Federal Reserve, and the Interest Rate358 Questions
Exam 11: The Determination of Aggregate Output, the Price Level, and the Interest Rate243 Questions
Exam 12: Policy Effects and Cost Shocks in the Asad Model200 Questions
Exam 13: The Labor Market in the Macroeconomy287 Questions
Exam 14: Financial Crises, Stabilization, and Deficits260 Questions
Exam 15: Household and Firm Behavior in the Macroeconomy: a Further Look364 Questions
Exam 16: Long-Run Growth196 Questions
Exam 17: Alternative Views in Macroeconomics294 Questions
Exam 18: International Trade, Comparative Advantage, and Protectionism301 Questions
Exam 19: Open-Economy Macroeconomics: the Balance of Payments and Exchange Rates308 Questions
Exam 20: Economic Growth in Developing Economies133 Questions
Exam 21: Critical Thinking About Research105 Questions
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Refer to the information provided in Table 6.2 below to answer the questions that follow.
Table 6.2 
-Refer to Table 6.2. The value for gross domestic product in billions of dollars is
-Refer to Table 6.2. The value for gross domestic product in billions of dollars is
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(Multiple Choice)
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VerifiedB
Which of the following is included in both the U.S. GDP and GNP?
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(Multiple Choice)
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(31) Correct Answer:Verified
VerifiedB
Refer to the information provided in Table 6.6 below to answer the questions that follow.
Table 6.6 
-Refer to Table 6.6. The value of government spending in billions of dollars is
-Refer to Table 6.6. The value of government spending in billions of dollars isFree
(Multiple Choice)
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(34) Correct Answer:Verified
VerifiedC
The personal saving rate is percentage of national income that is saved.
(True/False)
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(35) If gross investment in 2016 is $525 billion and depreciation in 2016 is $650 billion, net investment in 2016 is
(Multiple Choice)
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(37) Refer to the information provided in Table 6.9 below to answer the questions that follow.
Table 6.9 
-Refer to Table 6.9. Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's GDP deflator in year 1 is
-Refer to Table 6.9. Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy's GDP deflator in year 1 is (Multiple Choice)
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(38) A radiologist buys a new x-ray machine from General Electric to use in her medical practice. This x-ray machine is included in GDP as
(Multiple Choice)
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(38) Refer to the information provided in Table 6.10 below to answer the questions that follow.
Table 6.10 
-Refer to Table 6.10. Assume that this economy produces only two goods Good X and Good Y. The value for this economy's nominal GDP in year 2 is
-Refer to Table 6.10. Assume that this economy produces only two goods Good X and Good Y. The value for this economy's nominal GDP in year 2 is (Multiple Choice)
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(27) In 2016 final sales equal $200 billion, and the change in business inventories is $50 billion. GDP in 2016
(Multiple Choice)
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(36) If all disposable income is spent, personal saving will equal zero.
(True/False)
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(21) The change in business inventories is a component of investment.
(True/False)
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(31) If GNP is $625 billion and depreciation is $125 billion, then net national product is
(Multiple Choice)
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(44) Refer to the information provided in Table 6.3 below to answer the questions that follow.
Table 6.3 
-If receipts of factor income from the rest of the world exceed payments of factor income to the rest of the world, then
-If receipts of factor income from the rest of the world exceed payments of factor income to the rest of the world, then (Multiple Choice)
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