Exam 10: Gross Domestic Product and Economic Growth

The returns to education, as measured by the difference in incomes between college and high school graduates, have fallen sharply in the last 20 years.

(True/False)

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Question 41

The formula for GDP is C + I + G + X + M.

(True/False)

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Question 42

If investors purchased $100,000 of General Electric stock on the New York Stock Exchange, this would not be included in GDP.

(True/False)

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Question 43

Government policies to speed up the rate of economic growth include all of the following except

(Multiple Choice)

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Question 44

Unemployment compensation and other transfer payments that the government makes to individuals are not included in the calculation of GDP because they do not directly generate current output.

(True/False)

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Question 45

Which of the following is included in GDP?

(Multiple Choice)

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Question 46

If the value of imports exceeds the value of exports, this means that net exports are

(Multiple Choice)

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Question 47

Economists who focus on the impact of new technology and its relation to economic growth believe

(Multiple Choice)

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Question 48

Gross domestic product includes only final goods and services, rather than goods and services that are purchased for use as inputs in producing other goods, to avoid the mistake of

(Multiple Choice)

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Question 49

The calculation of this year's gross domestic product would include

(Multiple Choice)

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Question 50

Suppose that since the base year, all prices have increased by 100 percent. This year's nominal gross domestic product is $8,000 billion. Therefore, the real gross domestic product is

(Multiple Choice)

5.0/5

(80)

Question 51

GDP is calculated as the sum of intermediate goods and final goods.

(True/False)

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Question 52

If nominal GDP is increasing by 3 percent annually and the price index is rising by 4 percent annually, the real GDP is

(Multiple Choice)

4.7/5

(70)

Question 53

Adam Smith believed that larger markets would stimulate economic growth through

(Multiple Choice)

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Question 54

What have been the primary economic effects of deregulation that has been enacted since the 1970s in industries such as banking and airlines?

(Multiple Choice)

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Question 55

If nominal GDP is increasing by 2 percent annually and the price index is rising by 1 percent annually, the real GDP is

(Multiple Choice)

5.0/5

(74)

Question 56

According to the "rule of 70," if real GDP grows at 2 percent a year, it would take about ______ years for real GDP to double.

(Multiple Choice)

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Question 57

Proponents of increased economic growth say it will

(Multiple Choice)

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Question 58

The human capital of a nation includes investment in roads, dams, bridges, and communications.

(True/False)

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Question 59

GDP does attempt to measure

(Multiple Choice)

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Question 60

Showing 41 - 60 of 87

The returns to education, as measured by the difference in incomes between college and high school graduates, have fallen sharply in the last 20 years.

The formula for GDP is C + I + G + X + M.

If investors purchased $100,000 of General Electric stock on the New York Stock Exchange, this would not be included in GDP.

Government policies to speed up the rate of economic growth include all of the following except

Unemployment compensation and other transfer payments that the government makes to individuals are not included in the calculation of GDP because they do not directly generate current output.

Which of the following is included in GDP?

If the value of imports exceeds the value of exports, this means that net exports are

Economists who focus on the impact of new technology and its relation to economic growth believe

Gross domestic product includes only final goods and services, rather than goods and services that are purchased for use as inputs in producing other goods, to avoid the mistake of

The calculation of this year's gross domestic product would include

Suppose that since the base year, all prices have increased by 100 percent. This year's nominal gross domestic product is $8,000 billion. Therefore, the real gross domestic product is

GDP is calculated as the sum of intermediate goods and final goods.

If nominal GDP is increasing by 3 percent annually and the price index is rising by 4 percent annually, the real GDP is

Adam Smith believed that larger markets would stimulate economic growth through

What have been the primary economic effects of deregulation that has been enacted since the 1970s in industries such as banking and airlines?

If nominal GDP is increasing by 2 percent annually and the price index is rising by 1 percent annually, the real GDP is

According to the "rule of 70," if real GDP grows at 2 percent a year, it would take about ______ years for real GDP to double.

Proponents of increased economic growth say it will

The human capital of a nation includes investment in roads, dams, bridges, and communications.

GDP does attempt to measure

Scarcity and Choice

Market Transactions: Demand and Supply Analysis

Demand and Supply Applications

Production and the Costs of Production

Competition and Monopoly: Virtues and Vices

Imperfect Competition

Labor Markets

Government and Markets

The Mixed Economy of the United States

The Business Cycle, Unemployment, and Inflation

Macroeconomic Instability: Aggregate Demand and Aggregate Supply

Fiscal Policy and the Federal Budget

Money and the Banking System

The Federal Reserve and Monetary Policy

The United States and the Global Economy

International Finance

Economic Systems and Developing Countries

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