Exam 4: Measuring Gdp and Economic Growth

Depreciation is defined as the

Which of the following is NOT a part of the income approach to determining GDP?

In the above figure, household income is shown by flow

"As the credit crisis unfolded over the past year, one of the few certainties in the global economy seemed to be China's ability to plough on regardless of double- digit growth rates...The ...crisis has also focused ...on the need to update a growth model that...is still dependent on assembling goods for export without adding much value and on heavy industries that create pollution. Chinese companies have continued to find new foreign markets for their products...several other factors point to a slowing property market...production of steel, cement and air conditioners was down... Retail sales have risen by 23 per cent i each of the last two months". Beijing's Burden, FT.com, by Geoff Dyer, Sept. 23, -According to the article, _ are expected to contribute to China's real GDP in 2008.

Which of the following expenditures is for an intermediate good?

The following data describe France's economy in 2008. From the data, we can conclude that in France

Let C represent consumption expenditure, S saving, I gross private domestic investment, G government expenditure on goods and services, and NX net exports of goods and services. Then GDP equals

-In the above figure, which point represents the under use of resources?

The following data show Uruguay's GDP using purchasing power parity in billions of dollars. Using the data, we can conclude that

When all of the economy's resources are fully employed, the value of production is called

The following data describe Mexico's economy in 2007. From the data, we can conclude that n Mexico in 2007.

How does the income approach measure GDP?

Which of the following purchases is included in personal consumption expenditures when determining gross domestic product?

Which of the following are examples of the gross private domestic investment component of GDP? I. the purchase of production machinery by IBM II. an increase in the finished goods inventory at Intel

If a larger fraction of the adult population is working in the marketplace, household production

When IBM, an American firm, produces computer chips in another country, this production is not included in U.S. GDP because the production did not take place in the United States.

The United Nation's Human Development Report (2006) ranked Norway first in its Human Development Index with GDP per person equal to $38,454. The United States, with GDP per person of $39,676, is ranked eighth. Which of the following could explain this ranking?

Pollution is a by- product of some production processes, so on this count real GDP as measured

What are the categories of total expenditure?

Which of the following items is NOT part of government expenditure on goods and services in the GDP accounts?