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Question 62 (1 point) Suppose that in an economy, consumer expenditures are $2,890, government purchases are...
Question 72 (1 point) If the Consumer Price Index was 208 in Year 1 and 255...
Question 72 (1 point) If the Consumer Price Index was 208 in Year 1 and 255 in Year 2, the inflation rate is: **You must report your answer as a whole number - do not include a decimal. For example, 15 or 268 or -173. If you do not report it in this way, it may be marked as incorrect. Note on rounding: 0.5 or higher rounds up; everything else rounds down.** Your Answer: Answer
Question 63 (1 point) in an economy, a market basket of goods cost $6,050 in year...
Question 63 (1 point) in an economy, a market basket of goods cost $6,050 in year 1. The same market basket cost $7,245 in year 2. Assuming Year 1 is the base year, the Consumer Price Index in Year 1 is equal to ** You must report your answer as a whole number - do not include a decimal. For example, 15 or 268 or -173. If you do not report it in this way, it may be marked as...
Question 11 (5 points) Suppose nominal GDP in an economy is $4600 billion. Consumer expenditures are...
Question 11 (5 points) Suppose nominal GDP in an economy is $4600 billion. Consumer expenditures are $3500 billion, government purchases are $900 billion, and (gross private domestic) investment is $400 billion. Net exports equal: a) +400 billion. Ob) -400 billion. Oc) +200 billion. Od) - 200 billion O e) None of the above.
Question 61 (1 point) Suppose in a country Real GDP increased from $213,500 to $243,800 while...
Question 61 (1 point) Suppose in a country Real GDP increased from $213,500 to $243,800 while the population increased from 119 to 120. The change in real per-capita GDP would be: $_______ ** You must report your answer as a whole number - do not include a decimal or a dollar sign. For example, 15 or 268 or -173. If you do not report it in this way, it may be marked as incorrect. Note on rounding: 0.5 or higher...
Question 66 (1 point) Assume you are studying an economy that produces only one good. In...
Question 66 (1 point) Assume you are studying an economy that produces only one good. In Year 1, 92 units of output were produced and the (per unit) price in Year 1 was $23 In Year 2, 101 units of output were produced and the (per-unit) price in Year 2 was $25 In Year 3, 208 units of output were produced and the (per-unit) price in Year 3 was $35 **You Assume that Year 2 is the base year. Real...
Question 67 (1 point) Assume you are studying an economy that produces only one good. In...
Question 67 (1 point) Assume you are studying an economy that produces only one good. In Year 1, 83 units of output were produced and the (per-unit) price in Year 1 was $24 In Year 2, 127 units of output were produced and the (per-unit) price in Year 2 was $28 In Year 3, 171 units of output were produced and the (per-unit) price in Year 3 was $29 Assume that Year 2 is the base year. Nominal GDP in...
5. The economy below would be characterized as a domestic output AE, closed economy government 200...
5. The economy below would be characterized as a domestic output AE, closed economy government 200 230 20 250 270 20 300 310 20 350 350 20 400 390 20 450 430 20 500 470 20 A) private closed economy B) private open economy C) closed mixed economy D) open mixed economy 6. If all forms of spending below are integrated into the economy, equilibrium GDP is domestic output AE, closed economy government 200 230 20 250 270 20 300...
1. Since the U.S. is organized as a market economy, the government sector does not play...
1. Since the U.S. is organized as a market economy, the government sector does not play any role in economic activity. Group of answer choices True False 2. GDP equals $8 trillion. If consumption equals $5.5 trillion, investment equals $500 billion, and government spending equals $1.5 trillion, then: Group of answer choices exports exceed imports by $500 billion. imports exceed exports by $500 billion. net exports equal zero. exports exceed imports by $1 trillion. 3. GDP excludes: Group of answer...
sing and government purchases are leakages. 8. In a mixed closed economy: A taxes and government...
sing and government purchases are leakages. 8. In a mixed closed economy: A taxes and government purchases are leakages, while investment and saving are injections. • taxes and investment are injections, while saving and government purchases are leakages. taxes and savings are leakages, while investment and government purchases are injections. 1. government purchases and saving are injections, while investment and taxes are leakages. 9. In a mixed open economy, the equilibrium GDP is determined at that point where: A.S. +M+...
1. Calculate GDP in this simple economy: Consumer purchases: $100 per year Investment purchases: $50 per...
1. Calculate GDP in this simple economy: Consumer purchases: $100 per year Investment purchases: $50 per year Government purchases: $20 per year Total exports: $50 per year Total imports: $70 per year GDP = 2. "Government purchases (G)" does not include all of government spending: What is not included? 3. "Consumption spending (C)" does not include all of household spending: What is not included? In an imaginary economy, consumers buy only razors and cologne. The fixed basket consists of 6...
Question 72 (1 point) If the Consumer Price Index was 208 in Year 1 and 255 in Year 2, the inflation rate is: **You must report your answer as a whole number - do not include a decimal. For example, 15 or 268 or -173. If you do not report it in this way, it may be marked as incorrect. Note on rounding: 0.5 or higher rounds up; everything else rounds down.** Your Answer: Answer
Question 63 (1 point) in an economy, a market basket of goods cost $6,050 in year 1. The same market basket cost $7,245 in year 2. Assuming Year 1 is the base year, the Consumer Price Index in Year 1 is equal to ** You must report your answer as a whole number - do not include a decimal. For example, 15 or 268 or -173. If you do not report it in this way, it may be marked as...
Question 11 (5 points) Suppose nominal GDP in an economy is $4600 billion. Consumer expenditures are $3500 billion, government purchases are $900 billion, and (gross private domestic) investment is $400 billion. Net exports equal: a) +400 billion. Ob) -400 billion. Oc) +200 billion. Od) - 200 billion O e) None of the above.
Question 61 (1 point) Suppose in a country Real GDP increased from $213,500 to $243,800 while the population increased from 119 to 120. The change in real per-capita GDP would be: $_______ ** You must report your answer as a whole number - do not include a decimal or a dollar sign. For example, 15 or 268 or -173. If you do not report it in this way, it may be marked as incorrect. Note on rounding: 0.5 or higher...
Question 66 (1 point) Assume you are studying an economy that produces only one good. In Year 1, 92 units of output were produced and the (per unit) price in Year 1 was $23 In Year 2, 101 units of output were produced and the (per-unit) price in Year 2 was $25 In Year 3, 208 units of output were produced and the (per-unit) price in Year 3 was $35 **You Assume that Year 2 is the base year. Real...
Question 67 (1 point) Assume you are studying an economy that produces only one good. In Year 1, 83 units of output were produced and the (per-unit) price in Year 1 was $24 In Year 2, 127 units of output were produced and the (per-unit) price in Year 2 was $28 In Year 3, 171 units of output were produced and the (per-unit) price in Year 3 was $29 Assume that Year 2 is the base year. Nominal GDP in...
sing and government purchases are leakages. 8. In a mixed closed economy: A taxes and government purchases are leakages, while investment and saving are injections. • taxes and investment are injections, while saving and government purchases are leakages. taxes and savings are leakages, while investment and government purchases are injections. 1. government purchases and saving are injections, while investment and taxes are leakages. 9. In a mixed open economy, the equilibrium GDP is determined at that point where: A.S. +M+...
1. Calculate GDP in this simple economy: Consumer purchases: $100 per year Investment purchases: $50 per year Government purchases: $20 per year Total exports: $50 per year Total imports: $70 per year GDP = 2. "Government purchases (G)" does not include all of government spending: What is not included? 3. "Consumption spending (C)" does not include all of household spending: What is not included? In an imaginary economy, consumers buy only razors and cologne. The fixed basket consists of 6...
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