Question 1

non-income expense items included in the GDP calculation include

Accepted Answer

A) depreciation and indirect business taxes. 
B) depreciation and corporate profits. 
C) corporate profits tax and indirect business taxes. 
D) indirect business taxes and corporate profits. 
A) depreciation and indirect business taxes. 
B) depreciation and corporate profits. 
C) corporate profits tax and indirect business taxes. 
D) indirect business taxes and corporate profits.

Question 2

If consumption expenditures are $100 million,net investment is $50 million,imports are $20 million,exports are $10 million,government spending on goods and services is $40 million,social security spending is $15 million,and sales of existing homes equals $40 million,then what is the measure of GDP?

Accepted Answer

A) GDP = $225 million 
B) GDP = $180 million 
C) GDP = $295 million 
D) GDP = $195 million 
A) GDP = $225 million 
B) GDP = $180 million 
C) GDP = $295 million 
D) GDP = $195 million

Question 3

One of the principles behind the concept of the circular flow is that

Accepted Answer

A) in every economic exchange,the seller receives exactly the same amount that the buyer spends. 
B) in every economic exchange,the seller receives less than the amount that the buyer spends. 
C) the seller of goods receives exactly the same amount that the buyer spends,but the seller of resources receives less than the buyer spends. 
D) in exchange involving products,the seller receives less than the amount the buyer spends,but in resource markets the seller receives more than the buyer spends. 
A) in every economic exchange,the seller receives exactly the same amount that the buyer spends. 
B) in every economic exchange,the seller receives less than the amount that the buyer spends. 
C) the seller of goods receives exactly the same amount that the buyer spends,but the seller of resources receives less than the buyer spends. 
D) in exchange involving products,the seller receives less than the amount the buyer spends,but in resource markets the seller receives more than the buyer spends.

Question 4

The difference between net domestic product and national income is that

Accepted Answer

A) net domestic product includes depreciation. 
B) national income includes government and business transfer payments. 
C) net domestic product includes indirect business taxes. 
D) net domestic product doesn't include social security taxes or corporate retained earnings. 
A) net domestic product includes depreciation. 
B) national income includes government and business transfer payments. 
C) net domestic product includes indirect business taxes. 
D) net domestic product doesn't include social security taxes or corporate retained earnings.

Question 5

Suppose GDP is equal to $440 billion in two countries and that Country A has 100 million people and Country B has 175.In this situation,per capital GDP is

Accepted Answer

A) the same in both countries. 
B) higher in Country A. 
C) higher in Country B. 
D) an irrelevant factor. 
A) the same in both countries. 
B) higher in Country A. 
C) higher in Country B. 
D) an irrelevant factor.

Question 6

According to the circular flow,the dollar value of a nation's output is equal to

Accepted Answer

A) profits. 
B) total income. 
C) net income minus taxes. 
D) wages. 
A) profits. 
B) total income. 
C) net income minus taxes. 
D) wages.

non-income expense items included in the GDP calculation include

If consumption expenditures are $100 million,net investment is $50 million,imports are $20 million,exports are $10 million,government spending on goods and services is $40 million,social security spending is $15 million,and sales of existing homes equals $40 million,then what is the measure of GDP?

One of the principles behind the concept of the circular flow is that

The difference between net domestic product and national income is that

Suppose GDP is equal to $440 billion in two countries and that Country A has 100 million people and Country B has 175.In this situation,per capital GDP is

According to the circular flow,the dollar value of a nation's output is equal to

The Nature of Economics

Production Possibilities and Economic Systems

Demand and Supply

Introduction to Macroeconomics

Modelling Real Gdp and the Price Level in the Long Run

Economic Growth and Development

Modelling Real Gdp and the Price Level in the Short Run

Consumption, investment, and the Multiplier

The Public Sector

Fiscal Policy and the Public Debt

Money and the Banking System

Money Creation and Deposit Insurance

The Bank of Canada and Monetary Policy

Issues in Stabilization Policy

Comparative Advantage and the Open Economy

Exchange Rates and the Balance of Payments

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Exam 5: Measuring the Economys Performance

non-income expense items included in the GDP calculation include

If consumption expenditures are $100 million,net investment is $50 million,imports are $20 million,exports are $10 million,government spending on goods and services is $40 million,social security spending is $15 million,and sales of existing homes equals $40 million,then what is the measure of GDP?

One of the principles behind the concept of the circular flow is that

The difference between net domestic product and national income is that

Suppose GDP is equal to $440 billion in two countries and that Country A has 100 million people and Country B has 175.In this situation,per capital GDP is

According to the circular flow,the dollar value of a nation's output is equal to

The Nature of Economics

Production Possibilities and Economic Systems

Demand and Supply

Introduction to Macroeconomics

Modelling Real Gdp and the Price Level in the Long Run

Economic Growth and Development

Modelling Real Gdp and the Price Level in the Short Run

Consumption, investment, and the Multiplier

The Public Sector

Fiscal Policy and the Public Debt

Money and the Banking System

Money Creation and Deposit Insurance

The Bank of Canada and Monetary Policy

Issues in Stabilization Policy

Comparative Advantage and the Open Economy

Exchange Rates and the Balance of Payments

Filters