Question 1

Changes in business inventories will be negative when

Accepted Answer

A) production exceeds sales. 
B) production is less than sales. 
C) a trade surplus exists. 
D) a budget surplus exists. 
A) production exceeds sales. 
B) production is less than sales. 
C) a trade surplus exists. 
D) a budget surplus exists. B

Question 2

Suppose exports are greater than imports.Given this information,we know with certainty that

Accepted Answer

A) a trade surplus exists. B) GNP > GDP. C) GNP < GDP. D) the change in business inventories is positive. A) a trade surplus exists. B) GNP > GDP. C) GNP < GDP. D) the change in business inventories is positive. A

Question 3

Net national product (NNP)is equal to

Accepted Answer

A) personal income minus taxes. 
B) GNP minus consumption of fixed capital. 
C) GDP plus consumption of fixed capital. 
D) national income plus consumption of fixed capital. 
A) personal income minus taxes. 
B) GNP minus consumption of fixed capital. 
C) GDP plus consumption of fixed capital. 
D) national income plus consumption of fixed capital. B

Question 4

If GDP is more than GNP,we know with certainty that

Accepted Answer

A) a budget deficit exists. 
B) a trade surplus exists. 
C) a trade deficit exists. 
D) none of the above 
A) a budget deficit exists. 
B) a trade surplus exists. 
C) a trade deficit exists. 
D) none of the above

Question 5

Which of the following is NOT a component of consumption?

Accepted Answer

A) nondurable goods 
B) purchase of a new condominium 
C) education expenses 
D) none of the above 
A) nondurable goods 
B) purchase of a new condominium 
C) education expenses 
D) none of the above

Question 6

Which of the following is NOT included in National Income?

Accepted Answer

A) indirect taxes 
B) wages and salaries 
C) net interest 
D) rental income of persons 
A) indirect taxes 
B) wages and salaries 
C) net interest 
D) rental income of persons

Question 7

Which of the following is included in National Income?

Accepted Answer

A) indirect taxes 
B) consumption of fixed capital 
C) proprietors' income 
D) all of the above 
A) indirect taxes 
B) consumption of fixed capital 
C) proprietors' income 
D) all of the above

Question 8

Suppose exports are less than imports.Given this information,we know with certainty that

Accepted Answer

A) a trade deficit exists. B) GNP > GDP. C) GNP < GDP. D) the change in business inventories is positive. A) a trade deficit exists. B) GNP > GDP. C) GNP < GDP. D) the change in business inventories is positive.

Question 9

If GDP exceeds GNP,we know with certainty that

Accepted Answer

A) a budget deficit exists. 
B) a trade surplus exists. 
C) a trade deficit exists. 
D) receipts of factor income from the rest of the world exceed payments of factor income to the rest of the world. 
A) a budget deficit exists. 
B) a trade surplus exists. 
C) a trade deficit exists. 
D) receipts of factor income from the rest of the world exceed payments of factor income to the rest of the world.

Question 10

Changes in business inventories will be positive when

Accepted Answer

A) production exceeds sales. 
B) production is less than sales. 
C) a trade surplus exists. 
D) a budget surplus exists. 
A) production exceeds sales. 
B) production is less than sales. 
C) a trade surplus exists. 
D) a budget surplus exists.

Question 11

If GDP is less than GNP,we know with certainty that

Accepted Answer

A) a budget deficit exists. 
B) a trade surplus exists. 
C) a trade deficit exists. 
D) none of the above 
A) a budget deficit exists. 
B) a trade surplus exists. 
C) a trade deficit exists. 
D) none of the above

Question 12

Which of the following is not included in investment?

Accepted Answer

A) the purchase of new equipment by firms 
B) nondurable goods 
C) the purchase of a new home 
D) none of the above 
A) the purchase of new equipment by firms 
B) nondurable goods 
C) the purchase of a new home 
D) none of the above

Changes in business inventories will be negative when

Suppose exports are greater than imports.Given this information,we know with certainty that

Net national product (NNP)is equal to

If GDP is more than GNP,we know with certainty that

Which of the following is NOT a component of consumption?

Which of the following is NOT included in National Income?

Which of the following is included in National Income?

Suppose exports are less than imports.Given this information,we know with certainty that

If GDP exceeds GNP,we know with certainty that

Changes in business inventories will be positive when

If GDP is less than GNP,we know with certainty that

Which of the following is not included in investment?

A Tour of the World

A Tour of the Book

The Goods Market

Financial Markets

Goods and Financial Marketsthe Is-Lm Model

The Labor Market

Putting All Markets Togetherthe As-Ad Model

The Phillips Curve,the Natural Rate of Unemployment,and Inflation

The Crisis

The Facts of Growth

Saving,capital Accumulation,and Output

Technological Progress and Growth

Technological Progress: the Short,the Medium,and the Long Run

Expectations: the Basic Tools

Financial Markets and Expectations

Expectations,consumption,and Investment

Expectations,output,and Policy

Openness in Goods and Financial Markets

The Goods Market in an Open Economy

Output,the Interest Rate,and the Exchange Rate

Exchange Rate Regimes

Should Policy Makers Be Restrained

Fiscal Policy: a Summing up

Monetary Policy: a Summing up

Epilogue: the Story of Macroeconomics

an Introduction to Econometrics

Filters

Exam 26: an Introduction to National Income and Product Accounts

Changes in business inventories will be negative when

Suppose exports are greater than imports.Given this information,we know with certainty that

Net national product (NNP)is equal to

If GDP is more than GNP,we know with certainty that

Which of the following is NOT a component of consumption?

Which of the following is NOT included in National Income?

Which of the following is included in National Income?

Suppose exports are less than imports.Given this information,we know with certainty that

If GDP exceeds GNP,we know with certainty that

Changes in business inventories will be positive when

If GDP is less than GNP,we know with certainty that

Which of the following is not included in investment?

A Tour of the World

A Tour of the Book

The Goods Market

Financial Markets

Goods and Financial Marketsthe Is-Lm Model

The Labor Market

Putting All Markets Togetherthe As-Ad Model

The Phillips Curve,the Natural Rate of Unemployment,and Inflation

The Crisis

The Facts of Growth

Saving,capital Accumulation,and Output

Technological Progress and Growth

Technological Progress: the Short,the Medium,and the Long Run

Expectations: the Basic Tools

Financial Markets and Expectations

Expectations,consumption,and Investment

Expectations,output,and Policy

Openness in Goods and Financial Markets

The Goods Market in an Open Economy

Output,the Interest Rate,and the Exchange Rate

Exchange Rate Regimes

Should Policy Makers Be Restrained

Fiscal Policy: a Summing up

Monetary Policy: a Summing up

Epilogue: the Story of Macroeconomics

an Introduction to Econometrics

Filters