Gross domestic product is generally ________
national income.
Answer
greater than
less than
equal to
unrelated to
Table 9-9
Year/CPI
2012 = 100
2013 = 113
Refer to Table 9-9.Suppose that the data in the table above
reflect the price levels in the economy. Given that data, we can say that the
cost of living rose by ________ between 2012 and 2013?
Answer
2%
5%
8%
11%
13%
Emily is a writer. She buys pens and paper for
$20 and writes a 500-page novel that she sells to a publishing company for
$500,000. If the publisher prints 1 million copies that sell for $25 each, what
is the contribution to GDP of Emily’s novel?
Answer
$25 million
$20 million
$500,000
$50,000
.png”>
A very simple economy produces three goods: movies, burgers, and bikes. The
quantities produced and their corresponding prices for 2006 and 2013 are shown
in the table above.
Refer to Table 8-17.What is nominal GDP in 2006?
Answer
$3,320
$3,690
$6,360
$7,035
If the number of unemployed workers is 200
million, and the number in the labor force is 500 million, what is the
unemployment rate?
Answer
0.4%
4%
14%
40%
Monthly expenditures for a family of 4 in 2012
averaged $1,400. In 2013, the cost of the same purchases was $1,500. If 2012 is
the base year, what was the CPI in 2013?
Answer
110
107
100
93
1. Total income in an
economy is equal to
Answer
GDP
minus net exports.
income
minus taxes.
the
sum of wages, interest, rent, and profit.
firm
revenues.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more