Exam 7: Macroeconomic Measurements: GDP and Real GDP

Describe the three different reasons that investment can rise. Explain how one of these three changes could be undesireable in terms of promoting the economic health and strength of the economy.

The sum of durable goods,nondurable goods,and services equals

In the survey of Harvard University students noted in the text,the majority of students chose to

Net exports must always be a positive amount.

Which of the following statements is false?

Which of the following statements is true?

Real GDP is GDP

Which of the following statements is true?

Exhibit 7-5 -Refer to Exhibit 7-5. What was Country Z's economic growth rate between year 3 and year 4?

Which of the following statements is true?

Exhibit 7-1 -Refer to Exhibit 7-1.What is the value of disposable income?

Suppose that fixed investment is $550 billion and (total)investment is $630 billion. What does inventory investment equal?

Which of the following statements is false?

Look at the following data: durable goods = $200 billion; nondurable goods = $350 billion; services = $600 billion; fixed investment + inventory investment = $200 billion; government purchases = $400 billion; exports = $30 billion; imports = $79 billion.GDP is equal to

Depreciation refers to a decrease in the value of a good caused by

GDP includes some nonmarket goods.

When computing national income,which of the following is included in compensation of employees?

Which of the following illustrates double counting?

Suppose you have data on durable goods,nondurable goods,fixed investment,government purchases,exports,and imports.Can you compute GDP?

Suppose that consumption spending is $4,200 billion,spending on durable goods is $1,200 billion,and spending on services is $2,000 billion. What does spending on nondurable goods equal?