Exam 6: Measuring National Output and National Income

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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 3 is

(Multiple Choice)

4.9/5

(43)

Question 61

Nominal GDP is gross domestic product measured

(Multiple Choice)

4.8/5

(31)

Question 62

Gross domestic product measured in terms of the prices of a fixed, or base, year is

(Multiple Choice)

4.8/5

(28)

Question 63

Intermediate goods are produced by one firm for use in further processing by another firm.

(True/False)

4.8/5

(31)

Question 64

The interest on loans paid by businesses is called

(Multiple Choice)

4.8/5

(35)

Question 65

Which of the following is not counted in the GNP of the United States?

(Multiple Choice)

4.9/5

(30)

Question 66

Profits earned in a foreign country by U.S.-owned companies are included in

(Multiple Choice)

4.7/5

(33)

Question 67

Which of the following is a good or service counted in GDP?

(Multiple Choice)

4.8/5

(37)

Question 68

If the change in business inventories is zero, then final sales are

(Multiple Choice)

4.8/5

(26)

Question 69

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. If year 1 is the base year, the value for this economy's GDP deflator in year 1 is

(Multiple Choice)

4.7/5

(33)

Question 70

The difference between GNP and GDP is depreciation.

(True/False)

4.9/5

(42)

Question 71

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 personal income in billions of dollars is

(Multiple Choice)

5.0/5

(31)

Question 72

Which of the following would be counted in 2016's GDP?

(Multiple Choice)

4.9/5

(42)

Question 73

The percentage of disposable personal income that is saved is the

(Multiple Choice)

4.7/5

(39)

Question 74

Taco Bell opens a branch in Iceland. The sales of the restaurant enter the U.S. GNP and the Icelandic GDP.

(True/False)

4.9/5

(35)

Question 75

Saving rates tend to rise during and fall during .

(Multiple Choice)

4.9/5

(39)

Question 76

One of the flaws of GDP is that it

(Multiple Choice)

4.9/5

(43)

Question 77

The GDP of the United States in 2014 was around $17.4 trillion. This means

(Multiple Choice)

4.8/5

(34)

Question 78

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 1 is

(Multiple Choice)

4.8/5

(26)

Question 79

A decrease in crime would be reflected in a country's GDP.

(True/False)

4.9/5

(34)

Question 80

Showing 61 - 80 of 292

Exam 6: Measuring National Output and National Income

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 3 is

Nominal GDP is gross domestic product measured

Gross domestic product measured in terms of the prices of a fixed, or base, year is

Intermediate goods are produced by one firm for use in further processing by another firm.

The interest on loans paid by businesses is called

Which of the following is not counted in the GNP of the United States?

Profits earned in a foreign country by U.S.-owned companies are included in

Which of the following is a good or service counted in GDP?

If the change in business inventories is zero, then final sales are

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. If year 1 is the base year, the value for this economy's GDP deflator in year 1 is

The difference between GNP and GDP is depreciation.

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 personal income in billions of dollars is

Which of the following would be counted in 2016's GDP?

The percentage of disposable personal income that is saved is the

Taco Bell opens a branch in Iceland. The sales of the restaurant enter the U.S. GNP and the Icelandic GDP.

Saving rates tend to rise during ________ and fall during ________.

One of the flaws of GDP is that it

The GDP of the United States in 2014 was around $17.4 trillion. This means

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 1 is

A decrease in crime would be reflected in a country's GDP.

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

Money, the Federal Reserve, and the Interest Rate

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

Policy Effects and Cost 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 Economies

Critical Thinking About Research

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Saving rates tend to rise during and fall during .