This preview shows page 3 - 6 out of 6 pages. The bicycle is counted as: Investment in 2012 and as negative investment in 2013, Consumption, investment, government purchases, and net exports. Suppose a nation's 2010 nominal GDP was $972 billion and the general price index was 90. 13. Use the list below to answer the following question: If the number of worker-hours in an economy is 100 and its labor productivity is $5 of output per worker-hour the, the economy's real GDP. A) Gross Income received by households less personal taxes B) It is simply Gross Income before taxes are paid C) All income earned by resource suppliers D) The market value of the annual output net of consumption of fixed capital 14. Which of the following best defines disposable income? 17. Which of the following is an intermediate good? For a nation's real GDP per capita to rise during a year: Real GDP must increase more rapidly than population. Aggregate expenditures of households, business, and government. Which of the following best defines disposable income? The textbook has no information on the GO method so, you will need to refer to the Gross Output (GO) PowerPoint and class lecture notes to answer the. If a nation's real GDP increases from 100 billion to 106 billion and its population jumps from 200 million to 212 million, its real GDP per capita will: Basic measure of an economy's economic performance based on the market value of all final good sand services produced within the borders of a nation in a year, Approach where GDP is determined by adding consumer purchases of goods and services, gross investment spending by businesses, government purchases, and net exports, Approach where GDP is calculated as the sum of compensation to employees, rents, interest, proprietors' income, corporate profits, taxes on production and imports MINUS net foreign factor income, PLUS consumption of fixed capital and statistical discrepnacy, GDP less the consumption of fixed capital, Total income earned by a nation's resource suppliers plus taxes taxes on production and imports, Found by subtracting a statistical discrepancy from NDP and adding net foreign factor income to NDP, Total income paid to households prior to any allowance for personal taxes, Personal income after personal taxes have been paid- measures the amount of income available to households to consume or save, Computed by diving the price of a specific collection or market basket or output in a particular period by the price of the same market basket in a base period and multiplying the result by 100, Used to adjust nominal GDP for inflation or deflation and thereby obtain real GDP, Measures each year's output valued in terms of the prices prevailing in that year, Measures each year's output in terms of the prices that prevailed in a selected base year, Changes in quantity and quality of natural resouces, changes in quantity and quality of human resources, changes in stock of capital goods, and improvements in technology, Changes in how well an economy achieves allocative and productive efficiency, 5 things contributing to the returns in recent years, 1) use of more specialized inputs as firm grow. The purchase of 100 shares of AT&T by a retired business executive, The sum of all monetary transactions involving final goods and services that occur in the economy, GDP data that have been adjusted for changes in the price level. a well-enforced system of patents and copyrights. Which of the following do national income accountants consider to be investment? We could conclude that this economy's: Production possibilities curve shifted outward. Which of the following best defines disposable income A Gross Income received, Gross Income received by households less personal taxes, It is simply Gross Income before taxes are paid, The market value of the annual output net of consumption of fixed capital. However, once the, government statisticians used various price indexes to deflate those nominal GDP figures, then. The child-care services provided by stay-at-home parents. Which of the following institutional structures is most likely to promote growth? Report Error Real per capita GDP in the US in 2-12 was approximately: Which of the following best measure improvment in the standard of living of a nation? Copyright © 2019 Sawaal.com | All Rights Reserved, Answer:   A) income received by households less personal taxes. When an economy's production capacity is expanding: Gross domestic investment exceeds depreciation, Incomes earned by US resource suppliers plus taxes on production and imports, Economy A: gross investment equals depreciation, C is growing more rapidly than that in economy B, We need more information to determine whether GDP has changed. The ZZZ Corporation issue $25 million in new common stock in 2013. Which of the following best defines disposable income? What denotes offering several products for sale as one combined product? A) income received by households less personal taxes: B) the before-tax income received by households: C) all income earned by resource suppliers for their current contributions to production: Course Hero is not sponsored or endorsed by any college or university. Other things equal, a full-employment reallocated a substantial quantity of its resources to capital goods: we would expect: Technological advances account for about 40% of US productivity growth. GDP in year 2 is: Which of the following best defines disposable income? Which of the following best defines disposable income? Monetary policy refers to the actions the Federal Reserve takes to manage. 20. Which of the following best defines disposable income? Which of the following would not be expected to increase labor productivity? In national income accounting, government purchases include: Purchases by federal, state, and local government. Indian Economy Questions & Answers for Bank Exams : Which of the following best defines disposable income? NEW! Which group(s) participates in the U.S. underground economy? Nominal GDP is adjusted for price changes through the use of: National income accountants define investment to include: The concept of net domestic investment refers to: Total investment less the amount of investment goods used up in producing the year's output. Which of the following is NOT a measure of Human Development Index? That real GDP was consistently less than nominal GDP. To make the 2010 GDP comparable with the base year GDP, the 2010 GDP must be: Suppose the total monetary value of all final goods and services produced in a particular country in 2010 is $500 billion and the total monetary value of the final goods and services sold is $450 billion. We can conclude that: Is the dollar value of all final output produced within the borders of a nation. Economic growth is best defined as an increase in: Between 1950 and 2012, US real GDP grew at an average annual rate of about: Which of the following statements is correct? In national income accounting, the consumption category of expenditures includes purchases of: Consumer durable goods, consumer nondurable goods, and services. Which of the following is not economic investment? An increase in th size of the labor force. Which of following sectors does NOT come under tertiary sector? In October 2017, RBI fixed the cash loading limit per month to ______ for Prepaid Payment Instruments. View Answer Which of the following institutional arrangements is most likely to promote growth? 14. National income accountants can avoid multiple counting by: By summing the dollar value of all market transactions in the economy, we would, obtain a sum substantially larger than the GDP. This means that, The production of 1933's GDP used up more capital goods that were produced in that year. Which of the following is not a supply factor in economic growth? Suppose that GDP was $200 billion in year 1 and that all other countries of expenditures remained the same in year 2 except that business inventories fell by $10 billion. A) income received by households less personal taxes B) the before-tax income received by households C) all income earned by resource suppliers for their current contributions to production D) the market value of the annual output net of consumption of fixed capital Answer: A 39. Ryder in March 2013. The largest contributor to increases in the productivity of American labor is: Public capital goods such as highways and sanitation systems. Use the lost below to answer the following questions: Can grow either more slowly or more rapidly than real GDP. Which is the form of market where there is lack of competition? Suppose that an economy's labor productivity and total worker-house each grew by 3% between year 1 and year . Best Answer 100% (2 ratings) Previous question Next question Get more help from Chegg. That real GDP didn’t change and it equaled the nominal GDP. income received by households less personal taxes. Find GCSE resources for every subject. Which of the following is the smallest dollar amount in the US? The bicycle was sold to E.Z. In 2000, 2001 and 2002, the price level (inflation) rose on average by 2.50% each year and, this caused the nominal GDP for 2000, 2001, and 2002 to look much better. a) income received by households less personal taxes b) the before-tax income received by households c) all income earned by resource suppliers for their current contributions to production d) the market value of … We could conclude that this economy's: Total output = worker-hours x labor productivity, The skills and knowledge that enable a worker to be productive. As a result, investment: Historically, real GDP has increased less rapidly than nominal GDP because: Subtracted from exports when calculating GDP because imports do not constitute production in the US. Suppose that an eonomy's labor productivity fell by 3% and its total worker-hours remained constant betwenn year 1 and year 2. In 2012, national income accountants would: Add $10 billion to other elements of investment in calculating total investment. 38. Which of the following activities is excluded from GDP, causing GDP to understate an nation's well being? It used $18 million of the proceeds to replace obsolete equipment in it factory and $7 million to repay bank loans.

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