ECO/100 ECO100 ECO 100 CHAPTER 11 A QUIZ
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- 23 Oct 2017
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ECO 100 CHAPTER 11 A QUIZ
Text Exercise 6.1 | | |
Which of the following are not included in GDP?
A.
Strawberries sold in a grocery store.
B.
Economics textbooks sold in the bookstore.
C.
Sales of new cars.
D.
Leisure time.
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Text Exercise 5.2 |
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Since World War II, the United States has experienced ____ recessions.
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Text Exercise 4.1 |
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The GDP deflator is calculated for any given year by dividing nominal GDP by ____ GDP and multiplying by 100.
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Text Exercise 2.1 |
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Which of the following is not a component of GDP?
A.
Producer Price Index.
B.
Investment.
C.
Net exports.
D.
Consumption.
E.
Government purchases.
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Text Exercise 2.3 |
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If gross investment equals net investment comma then, then __________
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Text Exercise 4.2 |
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If the base year is 2010base year is 2010 then real and nominal GDP in 2010 will be equal
_____
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Text Exercise 5.1 |
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The date that a recession starts is called the ____
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Text Exercise 6.6 |
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Disappearing Trees and National Income. Suppose you were worried that national income does not adequately take into account the extraction of trees that provide shade and help stem global warming extraction of trees that provide shade and help stem global warming.
How would you advise the Commerce Department to take this into account in its calculations?
1. Identify the value of the all extracted trees. And subtract the value of the grown trees from national income.
2. Identify the value of the trees that provide shade and subtract the net change in the extracted trees that provide shade from national income
3. Identify the value of the trees that provide shade and subtract the value of the grown trees from national income.
4. Identify the value of the trees that provide shade and subtract the net change in all extracted frees from national income.
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Text Exercise 3.1 |
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1. What do we add to GDP to reach GNP?
2.
3.
4. Net income earned abroad by U.S. households.
5.
6.
7. Net exports.
8.
9.
10.
11.
12.
13. Personal income.
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Text Exercise 3.4 |
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The difference between gross national product and net national product is
________
.
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Text Exercise 1.2 |
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______________ are exchanged in product markets.
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Text Exercise 1.1 |
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The circular flow describes the process by which ____generates income which is spent on goods and services.
USA 
India
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