PowerPoint Presentation 1 In the equation Y = C + I + G + NX (E I), Y represents the economy’s total expenditure C represents household expenditures on services and durable goods all of the variables.
Trang 3• In the equation Y = C + I + G + NX (E-I),
• Y represents the economy’s total expenditure.
• C represents household expenditures on services and durable
goods.
• all of the variables are always positive numbers.
• All of the above are correct.
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Trang 5• The consumption component of GDP includes spending on
• durable goods and nondurable goods, but not spending on services
• durable goods and services, but not spending on nondurable goods
• nondurable goods and services, but not spending on durable goods
• durable goods, nondurable goods, and services
Trang 6• Consumption consists of spending by households on goods and services, with the exception of
• purchases of intangible services
• purchases of durable goods
• purchases of new houses
• spending on education
Trang 7• Which of the following is included in the consumption component of GDP?
• household purchases of appliances
• household purchases of medical care
• household purchases of food
• All of the above are included in the consumption component of GDP
Trang 10• purchases of natural gas by U.S households
• purchases of newly constructed homes by U.S households
• All of the above are correct.
Trang 12• For the purpose of calculating GDP, investment is spending on
• stocks, bonds, and other financial assets
• real estate and financial assets such as stocks and bonds
• capital equipment, inventories, and structures, including household purchases of new housing
• capital equipment, inventories, and structures, excluding household purchases of new housing
Trang 14• Which of the following is included in the investment component of GDP?
• households’ purchases of newly constructed homes
• net additions to firms’ inventories
• firms’ purchases of capital equipment
• All of the above are correct
•
Trang 15• Which of the following is included in the investment component of GDP?
• spending to build new houses
• spending to build new factories
• spending on business equipment such as welding equipment
• All of the above are included in the investment component of GDP
•
Trang 16• Which of the following is included in the investment component of GDP?
• Elaine pays her college tuition bill
• John’s law firm buys him a new computer
• Laura buys a bond that McDonald’s sells to raise funds
• All of the above are correct
Trang 17• The value of goods added to a firm's inventory in a certain year is
treated as
• consumption, since the goods will be sold to consumers in another period
• intermediate goods, and so is not included in that year’s GDP
• investment, since GDP aims to measure the value of the economy's
production that year
• spending on durable goods, since the goods could not be inventoried unless they were durable
Trang 18• A good is produced by a firm in 2009, added to the firm’s inventory in
2010, and sold to a household in 2010 As a result, on net,
• 2009 GDP increased and 2010 GDP decreased
• 2009 GDP decreased and 2010 GDP increased
• 2009 GDP did not change and 2010 GDP increased
• 2009 GDP increased and 2010 GDP did not change
Trang 19• Which of the following is included in government purchases?
• unemployment benefits a state pays
• Social Security payments the U.S government makes
• the services of a U.S government attorney valued at the cost of her salary
• All of the above are correct
Trang 20• If a U.S citizen buys a dress made in Nepal by a Nepalese firm, then
• U.S consumption increases, U.S net exports decrease, and U.S GDP
Trang 22• The U.S Air Force pays a Turkish citizen $30,000 to work on a U.S
base in Turkey As a result,
• U.S government purchases increase by $30,000; U.S net exports decrease by
$30,000; and U.S GDP is unaffected
• U.S government purchases increase by $30,000; U.S net exports are
unaffected; and U.S GDP increases by $30,000
• U.S government purchases, net exports, and GDP are unaffected
• U.S government purchases are unaffected; U.S net exports decrease by
$30,000; and U.S GDP decreases by $30,000
Trang 23• A Texas household receives a Social Security check for $1500, which it uses to purchase a $40 pair of shoes made in Thailand by a Thai firm,
a $1240 television made by a Korean firm in Korea, and $220 on
groceries from a local store As a result, U.S GDP
• increases by $40
• increases by $220
• increases by $280
• increases by $1500
Trang 25• In the economy of Talikastan in 2015, consumption was
$5000, exports were $400, government purchases were
$1000, imports were $600, and investment was $1200 What was Talikastan’s GDP in 2015?
• a $6200
• b $6400
• c $7000
• d $8200
Trang 26• In the economy of Talikastan in 2015, consumption was $4000,
exports were $800, GDP was $7500, imports were $200, and
investment was $1000 What were Talikastan’s government purchases
Trang 28Household purchases of durable goods $1293
Foreign purchases of domestically produced
Refer to Table 23-2 What
was country A’s consumption
in 2010?
Refer to Table 23-2 What
was country A’s investment in 2010?
Refer to Table 23-2 What
were country A’s government purchases in 2010?
Refer to Table 23-2 What
was country A’s GDP in 2010?