Macroeconomics Essay

If an thrift produces last output worth $5 trillion, then the union of gross income generated by that production is $5 trillion 2. Which of the pursuit would non be Ian expenditure on a final good or service? a medical clinics purchase of flu vaccinum 3. Which of the avocation would be include in GDP? payment of the monthly telephone bill by Mr. Laconic 4. Consumption in the expenditures onward motion to calculating GDP includes purchases of medical services at the local clinic 5.Which of the following is not considered a component of investment when alculating GDP? purchases of corporate variant 6. Which of the following is not included in GDP? interest payments on the theme debt 7. Which of the following would not increase U. S. GDP? increased shipments of Ghanese cocoa to the United States on Greek vessels 8. A farmer grows straw and sells it to a bakery for $5. The bakery bakes the wheat into bread, which it sells to a distributor for $20. The distributor sells the br ead to a super securities industry for $30, which sells the bread to customers for $50.Which of the following is true? The super grocery place contributed more, in look on added, than the bakery. 9. The simple circular flow model shows that households are on the offer side of the resource market and the demand side of the product market 10. Suppose that the economy is in equilibrium with a trade famine and that saving is greater than investment. According to the circular flow model, the governments budget must be in deficit 1 1 . Which of the following statements is true regarding leakages and injectants?Since leakages equal injections, aggregate income equals aggregate expenditure. 2. Which of the following is an injection into the circular flow? transfer payments 13. Which of the following would not be included in the measurement of GDP? transactions in the underground economy 14. GDP is a poor measure of social well-being because the think of of leisure time is not counted in GDP 15. Given the following hypothetical data C = $3,000 I = $1,200 G = $2,000 X- M $ vitamin D depreciation = $200 transfer payments = $800, net domestic product is $5,500 16.Limitations of the national income accounting system include valuing all output t its market price disregardless of whether it contributes to a societys economic upbeat 17. The price index in the dwelling yr always equals c 18. Exhibit 01 Product Bread Gum Quantity in market basket 10 5 50 Price in base year $1. 00 1. 00 0. 20 rate of flow year $1. 50 2. 00 0. 50 use of goods and services the information in Exhibit 01 to calculate the consumer price index in the current year. cost-of-living index = 200 19. If real GDP in a particular(prenominal) year is $5,000 trillion and nominal GDP in that same year is $4,000 trillion, then the GDP price index is 80 20.A study difference between the CPI and the GDP price index is that the CPI includes a sample of goods consumed, including imported goods, and the price index includes all domestically produced goods 21 . In double-entry book keeping system of GDP the look upon of output produced must equal the value of resource payments generated in producing that output 22. Gross Domestic Product measures the market value of all final goods and services produced by resources located within a nation regardless of who owns those resources 23. The value of the films produced in the United States starring Charlie