Retained earnings are the part of income that households retain after paying taxes. business retain after...
Retained earnings are the part of income that households retain after paying taxes. business retain after paying taxes. corporations do not pay to their owners in the form of dividends. corporations pay to their owners in the form of dividends. UNIT-1 & UNIT-2 MCQS MARKS : 1.0 GDP is a good but not perfect measure of economic well-being because it leaves out each of the following EXCEPT the quality of the environment. leisure. medical services. volunteer work. UNIT-1 & UNIT-2 MCQS MARKS : 1.0 Gross Domestic Product is defined as the market value of all final goods and services produced within a country in a given period of time. all goods and services produced by a country's citizens in a given period of time. every good and service produced within a country in a given period of time. all final goods and services produced by a country's citizens in a given period of time. UNIT-1 & UNIT-2 MCQS MARKS : 1.0 The best measure of a country's production of goods and services is nominal GNP. nominal GDP. real GDP. real NNP. UNIT-1 & UNIT-2 MCQS MARKS : 1.0 In the circular flow diagram, which of the following is true in the product market? Households sell goods and services to business firms. Business firms sell goods and services to households. Households sell resources to business firms. Business firms sell resources to households
Homework Answers
Pls see the correct choice against each question below:
Q: Retained earnings are the part of income that
A: corporations do not pay to their owners in the form of dividends
Q: GDP is a good but not perfect measure of economic well-being because it leaves out each of the following EXCEPT
A: medical services
Q: Gross Domestic Product is defined as
A: the market value of all final goods and services produced within a country in a given period of time
Q: The best measure of a country's production of goods and services is
A: real GDP
Q: In the circular flow diagram, which of the following is true in the product market?
A: Business firms sell goods and services to households. Households sell resources to business firms.
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Retained earnings are the part of income that households retain
after paying taxes. business retain after...
my 2 Subtitle Subtle Em Emphasis Paragraph Styles 1. GDP is defined as the a value...
my 2 Subtitle Subtle Em Emphasis Paragraph Styles 1. GDP is defined as the a value of all goods and services produced within a country in a given period of time. b. value of all goods and services produced by the citizens of a country, regardless of where they are living in a given period of time. value of all final goods and services produced within a country in a given period of time. value of all final goods and...
11. The business cycle is a. a very deep and prolonged economic downturn (recession or depression)....
11. The business cycle is a. a very deep and prolonged economic downturn (recession or depression). b. the short-run economic fluctuations between expansions (inflationary gaps) and contracts (recessionary gaps). c. a period in which output and employment are rising d. a period in which output and employment are falling 2. If the price level and nominal GDP both doubled, then real GDP would a. increase by half. b. also double. C. remain unchanged. d. decrease by half. 3. The chain-weight...
1. TRUE/FALSE( 1 mark per question, 20 marks in total) [1) An economy's income is the...
1. TRUE/FALSE( 1 mark per question, 20 marks in total) [1) An economy's income is the same as its expenditure because every transaction has a buyer and a seller. 2) GDP is the market value of all final goods and services produced by a country's citizens in a given period of time. [3) If nominal GDP is $10,000 and real GDP is $8,000, then the GDP deflator is 125. 14) Other things equal, in countries with higher levels of real...
34. All of the following will increase potential real GDP except a. an increase in the...
34. All of the following will increase potential real GDP except a. an increase in the amount of natural resources available. b. an increase in the percentage of the population that attends college. c. an increase in the cost of living (money prices). d. an improvement in technology. 35. Which of the following is not a problem associated with Real GDP as a measure of social welfare? a. It excludes intermediate goods as a separate entry. b. It does not...
1. A self-employed woman marries the man she has been paying to do her accounting. After...
1. A self-employed woman marries the man she has been paying to do her accounting. After they marry they decide there is no point continuing to write a check to him since they are now one-household. What effect does this have on GDP? Select one: a. None, since only their legal status changes and the same amount of productive activity is being done. b. GDP decreases because his accounting services were an intermediate good and are now a final good....
just answer no need describe M o nspuitiaseu uy General Motors assembly plant 13. Suppose Nucor...
just answer
no need describe
M o nspuitiaseu uy General Motors assembly plant 13. Suppose Nucor Steel sells $2,000 worth of steel to Ford. Other producers sell $5,000 worth of other inputs to Ford: Ford uses steel and other inputs to make a Taurus. It sells the Taurus to the car dealership for $15,000. The car dealership sells it to you for $18,000. What is the total contribution to GDP made by this series of transactions? 14. Which of the...
1. TRUE/FALSE( 1 mark per question, 20 marks in total) 11] An economy's income is the...
1. TRUE/FALSE( 1 mark per question, 20 marks in total) 11] An economy's income is the same as its expenditure because every transaction has a buyer and a seller. [21 GDP is the market value of all final goods and services produced by a country's citizens in a given period of time. 3] If nominal GDP is $10,000 and real GDP is $8,000, then the GDP deflator is 125. 14) Other things equal, in countries with higher levels of real...
1. TRUE/FALSE( 1 mark per question, 20 marks in total) [1 An economy's income is the...
1. TRUE/FALSE( 1 mark per question, 20 marks in total) [1 An economy's income is the same as its expenditure because every transaction has a buyer and a seller. 2) GDP is the market value of all final goods and services produced by a country's citizens in a given period of time. (3) If nominal GDP is $10,000 and real GDP is $8,000, then the GDP deflator is 125 14) Other things equal, in countries with higher levels of real...
1. TRUE/FALSE(1 mark per question, 20 marks [i] An economy's income is the same as its...
1. TRUE/FALSE(1 mark per question, 20 marks [i] An economy's income is the same as its expenditure because every transaction P) GDP is the market value of all final goods and services produced by a country's (3] If nominal GDP is $10,000 and real GDP is $8,000, then the GDP deflator is 125. has a buyer and a seller. citizens in a given period of time. 41 Other things equal, in countries with higher levels of real GDP per person,...
QUESTION 2 Match the economic concepts given in COLUMN A with its descr and the correct...
QUESTION 2 Match the economic concepts given in COLUMN A with its descr and the correct letter next to it. E.9.2.11A (20 Marks) oncepts given in COLUMN A with its description in COLUMN B. Write down the down the question number 2.1 COLUMNA Medium of exchange Autonomous consumption 22 23 2.4 Reserve rati Firms 2.5 Labour Force Consumption function 2.7 Ad valorem 2.8 2.9 Net domestic product Tax avoidance COLUMNB Practice of exploiting tax loopholes A tarif that is levied...
my 2 Subtitle Subtle Em Emphasis Paragraph Styles 1. GDP is defined as the a value of all goods and services produced within a country in a given period of time. b. value of all goods and services produced by the citizens of a country, regardless of where they are living in a given period of time. value of all final goods and services produced within a country in a given period of time. value of all final goods and...
11. The business cycle is a. a very deep and prolonged economic downturn (recession or depression). b. the short-run economic fluctuations between expansions (inflationary gaps) and contracts (recessionary gaps). c. a period in which output and employment are rising d. a period in which output and employment are falling 2. If the price level and nominal GDP both doubled, then real GDP would a. increase by half. b. also double. C. remain unchanged. d. decrease by half. 3. The chain-weight...
1. TRUE/FALSE( 1 mark per question, 20 marks in total) [1) An economy's income is the same as its expenditure because every transaction has a buyer and a seller. 2) GDP is the market value of all final goods and services produced by a country's citizens in a given period of time. [3) If nominal GDP is $10,000 and real GDP is $8,000, then the GDP deflator is 125. 14) Other things equal, in countries with higher levels of real...
just answer
no need describe
M o nspuitiaseu uy General Motors assembly plant 13. Suppose Nucor Steel sells $2,000 worth of steel to Ford. Other producers sell $5,000 worth of other inputs to Ford: Ford uses steel and other inputs to make a Taurus. It sells the Taurus to the car dealership for $15,000. The car dealership sells it to you for $18,000. What is the total contribution to GDP made by this series of transactions? 14. Which of the...
1. TRUE/FALSE( 1 mark per question, 20 marks in total) 11] An economy's income is the same as its expenditure because every transaction has a buyer and a seller. [21 GDP is the market value of all final goods and services produced by a country's citizens in a given period of time. 3] If nominal GDP is $10,000 and real GDP is $8,000, then the GDP deflator is 125. 14) Other things equal, in countries with higher levels of real...
1. TRUE/FALSE( 1 mark per question, 20 marks in total) [1 An economy's income is the same as its expenditure because every transaction has a buyer and a seller. 2) GDP is the market value of all final goods and services produced by a country's citizens in a given period of time. (3) If nominal GDP is $10,000 and real GDP is $8,000, then the GDP deflator is 125 14) Other things equal, in countries with higher levels of real...
1. TRUE/FALSE(1 mark per question, 20 marks [i] An economy's income is the same as its expenditure because every transaction P) GDP is the market value of all final goods and services produced by a country's (3] If nominal GDP is $10,000 and real GDP is $8,000, then the GDP deflator is 125. has a buyer and a seller. citizens in a given period of time. 41 Other things equal, in countries with higher levels of real GDP per person,...
QUESTION 2 Match the economic concepts given in COLUMN A with its descr and the correct letter next to it. E.9.2.11A (20 Marks) oncepts given in COLUMN A with its description in COLUMN B. Write down the down the question number 2.1 COLUMNA Medium of exchange Autonomous consumption 22 23 2.4 Reserve rati Firms 2.5 Labour Force Consumption function 2.7 Ad valorem 2.8 2.9 Net domestic product Tax avoidance COLUMNB Practice of exploiting tax loopholes A tarif that is levied...
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