1. Government transfer payments are: Multiple Choice a. included in GDP under the personal consumption of...
1. Government transfer payments are:
Multiple Choice
a. included in GDP under the personal consumption of the recipient.
b. not included in GDP since the recipient will use the funds to purchase final goods and services.
c. included in GDP to account for the tax revenue that is generated to pay for them.
d. included in GDP under government spending.
2. The purchase of a new television produced in Japan will be included in GDP as:
Multiple Choice
a. an increase in personal consumer expenditures.
b. an increase personal consumption expenditures and a decrease in net exports.
c. a decrease in net exports.
d. an increase in investment.
3. Nominal GDP is calculated using:
Multiple Choice
a. current prices and tends to be larger than real GDP since it reflects changes in both price and output.
b. base year prices and tends to be smaller than real GDP since it reflects changes in output only.
c. base year prices and tends to be larger than real GDP since it reflects changes in both price and output.
d. current prices and tends to be smaller than real GDP since it reflects changes in output only.
Homework Answers
1. b. not included in GDP since the recipient will use the funds to purchase final goods and services.
2. c. a decrease in net exports
3. a. current prices and tends to be larger than real GDP since it reflects changes in both price and output.
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1. Government transfer payments are:
Multiple Choice
a. included in GDP under the personal consumption of...
Consumption of Fixed Capital Government Purchases US imports Personal Taxes Transfer Payments US Exports Personal Consumption...
Consumption of Fixed Capital Government Purchases US imports Personal Taxes Transfer Payments US Exports Personal Consumption Expenditures Net Foreign Factor Income Gross Private Domestic Investment Taxes on Production and Imports Undistributed Corporate Profits Social Security Contributions Corporate Income Taxes Statistical Discrepancy $25 315 260 45 247 249 475 5 300 245 60 240 65 40 Refer to the accompanying national income data (in billions of dollars). National income is Multiple Choice $940 billion. $975 billion. $804 billion. $1,019 billion.
Gross Domestic Product Use the data chart to answer the questions below. Consumption $500 Government Expenditures...
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Check my answers please ?? MULTIPLE CHOICE. Choose the one alternative that best completes the statement...
Check my answers please ??
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2 2 a negative sign() in front of those numbers. . If it increases government purchases,...
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Part 1: Expenditures Approach to Calculating GDP (weight 25% of the assignment grade) Complete the following...
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1. 2. 3. 4. a. When referring to GDP, which of the following is included in...
1. 2. 3. 4.
a. When referring to GDP, which of the following is included in GDP? Money spent on services by households (haircuts, meals at restaurants, lawyer, etc.) New cars that are purchased this year, but produced last year. Social Security payments. Goods that were produced by U.S. citizens abroad. b. Which of the following transactions is not included in GDP? Sean purchases coffee produced in Guatemala. Thomas pays to have his taxes done by a national accounting company...
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Macroeconomic Multiple Choice Questions
Answer All 10 Questions*
1) If the Central Bank of Kuwait puts in place an expansionary monetary policy, its decision is based on A) the fact that the economy is at full employment B) Expectation of excessive inflation in the future C) the fact that the economy is in an expansion D) Unemployment level is high 2) When the interest rate is set at a very low rate A) the opportunity cost of holding money is...
Consumption of Fixed Capital Government Purchases US imports Personal Taxes Transfer Payments US Exports Personal Consumption Expenditures Net Foreign Factor Income Gross Private Domestic Investment Taxes on Production and Imports Undistributed Corporate Profits Social Security Contributions Corporate Income Taxes Statistical Discrepancy $25 315 260 45 247 249 475 5 300 245 60 240 65 40 Refer to the accompanying national income data (in billions of dollars). National income is Multiple Choice $940 billion. $975 billion. $804 billion. $1,019 billion.
Check my answers please ??
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) 1) The use of government taxes and spending to alter economic outcomes is known as A) Incomes policy Q) Monetary policy B) Foreign trade policy. D) Fiscal policy A- 2) 2) If full-employment output exceeds equilibrium output, greater deficit spending will result A) Smaller recessionary gap C) Smaller inflationary gap. B) Larger recessionary gap. D) None of the choices...
2 2 a negative sign() in front of those numbers. . If it increases government purchases, real GDP will increase by $ billion suggesting an expenditures multiplier of If the government instead lowers taxes, real GDP will increase by $ billion, suggesting a tax multiplier of b. Now suppose another country's MPC is 0.8, and in this country, government seeks to reduce real GDP by either decreasing government purchases by $40 billion or by raising taxes by the same amount...
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1. 2. 3. 4.
a. When referring to GDP, which of the following is included in GDP? Money spent on services by households (haircuts, meals at restaurants, lawyer, etc.) New cars that are purchased this year, but produced last year. Social Security payments. Goods that were produced by U.S. citizens abroad. b. Which of the following transactions is not included in GDP? Sean purchases coffee produced in Guatemala. Thomas pays to have his taxes done by a national accounting company...
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