Question 1

Gross investment minus _____ = net investment.

Accepted Answer

The answer of Gross investment minus _____ = net investment....

Question 2

Which statement is false?

Accepted Answer

A)  In 2009 G was greater than I.
B)  GDP in 2006 was greater than GDP in 2009.
C)  In 2009 C was greater than G and I combined.
D)  None of the statements are false.E) B) and D)
F) B) and C)

Question 3

If GDP rose from 8000 to 10,000 and prices rose by 20 percent,real GDP

Accepted Answer

A)  fell by over 10 percent.
B)  fell by less than 10 percent.
C)  stayed the same.
D)  rose by less than 10 percent.
E)  rose by more than 10 percent.F) A) and D)
G) A) and C)

Question 4

Gross Domestic Product is the total market value of all

Accepted Answer

A)  commodities sold in a year.
B)  goods and services produced in a year within a country.
C)  foods and services produced by domestic companies in a year.
D)  consumer goods sold in a year.E) None of the above
F) A) and B)

Question 5

GDP includes

Accepted Answer

A)  intermediate but not final products.
B)  substitute but not intermediate products.
C)  final but not intermediate products.
D)  complementary but not intermediate products.E) A) and C)
F) A) and B)

Question 6

When the Noodlemans purchase a new residential structure,

Accepted Answer

A)  GDP is unaffected.
B)  investment rises by the purchase price.
C)  consumption rises by the purchase price.
D)  net exports fall.E) None of the above
F) B) and C)

Question 7

Net domestic product is usually preferred to GDP by economists because net national product

Accepted Answer

A)  includes depreciation.
B)  excludes depreciation.
C)  includes indirect business taxes.
D)  excludes indirect business taxes.E) A) and C)
F) A) and B)

Question 8

If our GDP triples,our GDP deflator stays the same,and our population doubles,our real per capital GDP will

Accepted Answer

A)  stay exactly the same.
B)  rise by 33 1/3 percent.
C)  rise by 50%.
D)  rise by 66 2/3 percent.
E)  doublE.F) A) and B)
G) A) and E)

Question 9

Statement I: Net exports is a negative number if exports exceed imports.
Statement II: G is the largest sector of GDP.

Accepted Answer

A)  Statement I is true and statement II is false.
B)  Statement II is true and statement I is false.
C)  Both statements are true.
D)  Both statements are false.E) C) and D)
F) B) and D)

Question 10

If GDP falls 12 percent since the base year and real GDP remains the same,the GDP deflator in the current year is ___.

Accepted Answer

The answer of If GDP falls 12 percent since the...

Question 11

Suppose that GDP increases in 2015,but real GDP decreases during the year.It can be concluded that

Accepted Answer

A)  output declined or we had deflation in 2015.
B)  the price level fell in 2015.
C)  inflation was zero in 2015.
D)  output increased in 2015.E) B) and C)
F) A) and D)

Question 12

The largest item amount among those listed here is

Accepted Answer

A)  national income.
B)  net interest.
C)  net domestic product.
D)  corporate profits.E) All of the above
F) A) and D)

Question 13

The fact that GDP has risen faster than real GDP

Accepted Answer

A)  suggests that the base year of the GDP deflator has been shifted.
B)  tells us nothing about what has happened to the price level.
C)  suggests that the general price level has fallen.
D)  suggests that the general price level has risen.E) C) and D)
F) A) and D)

Question 14

Suppose that GDP rose from $8 trillion to $9 trillion,while the GDP deflator increased from 100 to 120.Real GDP

Accepted Answer

A)  rose.
B)  fell.
C)  remained constant.
D)  cannot be calculated from these figures.E) A) and D)
F) All of the above

Question 15

Which of the following are excluded from GDP?

Accepted Answer

A)  Changes in the value of existing assets
B)  Financial transactions
C)  Sales of used goods
D)  All of the choices are excluded from GDP.E) C) and D)
F) B) and D)

Question 16

If net investment were negative,then depreciation would be greater than ___.

Accepted Answer

The answer of If net investment were negative,then depreciation would...

Question 17

The per capita GDP was about $____________ and the GPI was about $_________ in 2009.

Accepted Answer

The answer of The per capita GDP was about $____________...

Question 18

In evaluating an economy's performance over a period of years,real GDP provides a better measuring rod than GDP because

Accepted Answer

A)  GDP is distorted by its failure to show qualitative improvements in the products we manufacture.
B)  Real GDP is adjusted for the social and environmental costs of production,which are normally not compensated.
C)  Real GDP includes such productive endeavors as housewife services and home repairs that are performed by households without payment.
D)  Real GDP does not include the value of intermediate goods and services.
E)  GDP reflects changes in prices as well as changes in output,while real GDP only reflects changes in output.F) B) and C)
G) A) and E)

Question 19

Which of the following would cause the GDP statistic to understate the growth in economic well-being over the past 50 years?

Accepted Answer

A)  Increase in the population
B)  Increase in the price level
C)  Increase in the proportion of goods which pass through the market
D)  Increase in leisure timeE) A) and D)
F) None of the above

Question 20

Net exports is a positive number in the national income accounts when

Accepted Answer

A)  capital consumption exceeds net investment.
B)  exports exceed imports.
C)  imports exceed exports.
D)  national income exceeds personal income.E) C) and D)
F) A) and C)

Exam 9: Gross Domestic Product

If our GDP triples,our GDP deflator stays the same,and our population doubles,our real per capital GDP will

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Gross Domestic Product is the total market value of all

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Statement I: Net exports is a negative number if exports exceed imports. Statement II: G is the largest sector of GDP.

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If GDP rose from 8000 to 10,000 and prices rose by 20 percent,real GDP

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Which of the following are excluded from GDP?

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Suppose that GDP increases in 2015,but real GDP decreases during the year.It can be concluded that

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The per capita GDP was about $____________ and the GPI was about $_________ in 2009.

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GDP includes

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If net investment were negative,then depreciation would be greater than ___.

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Net domestic product is usually preferred to GDP by economists because net national product

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When the Noodlemans purchase a new residential structure,

Correct AnswerverifiedShow Answer

In evaluating an economy's performance over a period of years,real GDP provides a better measuring rod than GDP because

Correct AnswerverifiedShow Answer

Which of the following would cause the GDP statistic to understate the growth in economic well-being over the past 50 years?

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If GDP falls 12 percent since the base year and real GDP remains the same,the GDP deflator in the current year is ___.

Correct AnswerverifiedShow Answer

Net exports is a positive number in the national income accounts when

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The largest item amount among those listed here is

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Gross investment minus _____ = net investment.

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Suppose that GDP rose from $8 trillion to $9 trillion,while the GDP deflator increased from 100 to 120.Real GDP

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The fact that GDP has risen faster than real GDP

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Which statement is false?

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The per capita GDP was about $____ and the GPI was about $_ in 2009.

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