Homework Answers
36. Food and energy is not a part of core CPI. Hence, gasoline is excluded from Core CPI calculation.
37. GDP deals with goods and services produced within the boundaries of the nation. Hence, the price of foreign made trucks will not affect the GDP deflator .
Similarly, while calculating CPI, consumer vehicles are included. But vehicles which are used primarily for business are excluded. Hence, the heavy duty truck will not be a part of the CPI calculation.
Therefore, correct answer is Option C
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36. Which of the following items would NOT be included in basket of goods used to...
1). If the price of Australian-made shoes imported into the United States increase, then, at a...
1). If the price of Australian-made shoes imported into the United States increase, then, at a result, Answer: the GDP deflator increases but the consumer price index does not increase. 2). Suppose that U.S. mining companies purchase German-made ore trucks at a reduced price. By itself, what effect will this purchase have on the GDP deflator and in the CPI? Answer: the CPI and the GDP deflator will be unaffected. I juxtapose these two questions together because I don’t understand...
. Which of the following items is included in U.S. GDP? /196 T -b ㆎ a....
. Which of the following items is included in U.S. GDP? /196 T -b ㆎ a. b. c. d. goods produced by a Japanese citizen working in the United States the difference in the price of the sale of an existing home and its original purchase price known illegal activities Imports from Singapore
Which of the following is excluded from calculations of GDP? . Select one: O a. Goods...
Which of the following is excluded from calculations of GDP? . Select one: O a. Goods that bring little value to society. O b. Income received by managers of corporations. O c. Used items such as cars, and purchases on E-Bay. O d. Items that are exported for sale overseas. Question 29 Not yet answered Points out of 1.00 P Flag question Which of the following is government spending on goods and services? Select one: O a. Medicare benefits. O...
1. Which of the following is NOT included in U.S. GDP? Multiple Choice toys produced by...
1. Which of the following is NOT included in U.S. GDP? Multiple Choice toys produced by a U.S. firm located in China beer brewed in Colorado and purchased by a German tourist a car made by a Japanese auto producer in Kansas Incorrect corn grown in Iowa and exported to Africa 2. Which of the following is an example of investment, as a component of GDP? Multiple Choice the purchase of a truck by a delivery company the purchase of...
ECON 250 30. Which of the following is NOT included in U.S. GDP? the estimated rental...
ECON 250 30. Which of the following is NOT included in U.S. GDP? the estimated rental value of owner-occupied housing in the U.S.A. b.US. home grown garden for family consumption c. production of foreign citizens living in the United States d services such as those provided by American lawyers and America hair stylists working in the USA 31. One bag of flour is sold for $2.50 to a bakery, which uses the flour to bake bread. Five loafs of bread...
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ΤΕΧΝΙΤΗΤΗ iple Choice y the choice that best completes the statement or answers the question. The production possibilities frontier is a graph that shows the various combinations of output that an economy a. should produce. b. wants to produce. c. can produce d. demands 2 The price index was 320 in one year and 360 in the next year. What was the inflation rate? a. 9 percent ((B-A)/A)*100 b. 11.1 percent c. 12.5 percent ((360 - 320)/320)*100 d. 40 percent...
1. U.S. GDP includes estimates of the value of items that are produced and consumed at...
1. U.S. GDP includes estimates of the value of items that are produced and consumed at home, such as housework and car maintenance. a. True b. False 2. If the U.S. government reports that GDP in the third quarter was $16 trillion at an annual rate, then the amount of income and expenditure during quarter three was $4 trillion. a. True b. False 3. If consumption is 57000, exports are $600. government purchases are $2000. government transfers are $900, imports...
3. Which of the following transactions will be included in the U.S. GDP? If the transaction is included, identify i...
3. Which of the following transactions will be included in the U.S. GDP? If the transaction is included, identify into which category it fits. If the transaction is NOT included, tell why not. Fill in the blanks: yes or no? a. Nissan builds a new automobile plant in the U.S b. Delta Airlines sells one of its existing jets to Southwest. c. Ms. Moneybags buys existing shares of GM stock d. A California winery produces a case of Merlot and...
6) in the U.S., which is not a specific stated goal of Government policies?: a) price...
6) in the U.S., which is not a specific stated goal of Government policies?: a) price stability b) full employment c) growth d) social well-being (welfare, or "happiness") 7) The unemployment rate is defined as: a) civilian labor force/civilian non-institutional population b) unemployed/civilian labor force 0) discouraged workers/civilian labor force d) none of the above , 8) The term "final goods" refers to: a) raw materials b) goods whose value has been adjusted for changes in the price level c)...
Q1 Which of the following are included and which are excluded in calculating this year's GDP....
Q1 Which of the following are included and which are excluded in calculating this year's GDP. Explain in each instance. a. A monthly scholarship cheque received by an economics student b. The purchase of an almost new tractor by farmer Kojo C. The cashing in of a savings bond d. An increase in business inventories e. Tim Horton's purchases a corner grocery store f. Fearless Qweenie Kong, a stuntwoman, purchases a life insurance policy for a billion dollars ($) g....
. Which of the following items is included in U.S. GDP? /196 T -b ㆎ a. b. c. d. goods produced by a Japanese citizen working in the United States the difference in the price of the sale of an existing home and its original purchase price known illegal activities Imports from Singapore
Which of the following is excluded from calculations of GDP? . Select one: O a. Goods that bring little value to society. O b. Income received by managers of corporations. O c. Used items such as cars, and purchases on E-Bay. O d. Items that are exported for sale overseas. Question 29 Not yet answered Points out of 1.00 P Flag question Which of the following is government spending on goods and services? Select one: O a. Medicare benefits. O...
ECON 250 30. Which of the following is NOT included in U.S. GDP? the estimated rental value of owner-occupied housing in the U.S.A. b.US. home grown garden for family consumption c. production of foreign citizens living in the United States d services such as those provided by American lawyers and America hair stylists working in the USA 31. One bag of flour is sold for $2.50 to a bakery, which uses the flour to bake bread. Five loafs of bread...
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1. U.S. GDP includes estimates of the value of items that are produced and consumed at home, such as housework and car maintenance. a. True b. False 2. If the U.S. government reports that GDP in the third quarter was $16 trillion at an annual rate, then the amount of income and expenditure during quarter three was $4 trillion. a. True b. False 3. If consumption is 57000, exports are $600. government purchases are $2000. government transfers are $900, imports...
3. Which of the following transactions will be included in the U.S. GDP? If the transaction is included, identify into which category it fits. If the transaction is NOT included, tell why not. Fill in the blanks: yes or no? a. Nissan builds a new automobile plant in the U.S b. Delta Airlines sells one of its existing jets to Southwest. c. Ms. Moneybags buys existing shares of GM stock d. A California winery produces a case of Merlot and...
Q1 Which of the following are included and which are excluded in calculating this year's GDP. Explain in each instance. a. A monthly scholarship cheque received by an economics student b. The purchase of an almost new tractor by farmer Kojo C. The cashing in of a savings bond d. An increase in business inventories e. Tim Horton's purchases a corner grocery store f. Fearless Qweenie Kong, a stuntwoman, purchases a life insurance policy for a billion dollars ($) g....
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