Exam 2: Measuring Macroeconomic Data

Which of the following will be counted as an expenditure in the measurement of GDP? (Assume that none of the transactions is concealed from the relevant authorities. )

Which of the following is included in net government income?

The unemployment rate that is typically reported in the media is ________.

If a large number of people were to leave their civilian jobs and join the military,which of the following would increase?

Which of the following will be counted as an investment expenditure in the measurement of GDP?

Which of the following is a good indicator of short-term interest rates in international markets?

State the fundamental identity of national income accounting.Why is it not possible for this identity to be violated?

Table 2.1 GDP and its components,2012 -Assuming that the GDP breakdown shown in Table 2.1 is typical of a given year in the U.S.we can say that ________.

Variables measured at current market prices are nominal,rather than real.In what sense are nominal variables unreal?

To compute the CPI,the Bureau of Labor Statistics (BLS)compiles a "basket of goods" that ________;each price in the index is weighted by ________.

An increase in the actual rate of inflation is most likely to cause a decrease in ________.

The Fisher equation implies ________.

The unemployment rate that is typically reported in the media is ________.

The inflation rate = ________.

The Bureau of Economic Analysis calculates the PCE deflator ________.

The difference between inventories and inventory investment is that typically ________.

-Based on the table "Real and Nominal GDP," if year one is the base year,then the real GDP in year three,is ________.

Which of the following is typically not counted in GDP?

Table 2.1 GDP and its components,2012 -Assuming that the GDP breakdown shown in Table 2.1 is typical of a given year in the U.S.we can say that ________.

The total income earned by residents of an economy is known as