Quiz #2/3 [MCQ | Chapters 23-24]

1

An example of a transfer payment is

1

The value of plant and equipment worn out in the process of manufacturing goods and services is measured by

1

Which of the following would be excluded from UK GDP for 2005? The sale of?

1

Gross Domestic Product can be measured as the sum of

1

UK Gross Domestic Product (in contrast to Gross National Product) measures the production and income of

1

Gross Domestic Product is the sum of the market value of the

1

If nominal GDP in 2005 exceeds nominal GDP in 2004, then the production of output

1

If a cobbler buys leather for €100 and thread for €50 and uses them to produce and sell €500 worth of shoes to consumers, the contribution to GDP is

1

GDP would include which of the following?

1

Real GDP is measured in prices while nominal GDP is measured in prices.

1

What is the value of real GDP for 2004?

1

What is the value of the GDP deflator in 2004?

1

What is the percentage increase in prices from 2003 to 2004?

1

What is the approximate percentage increase in prices from 2004 to 2005?

1

What is the percentage increase in real GDP from 2004 to 2005?

1

If UK GDP exceeds UK GNP, then

1

UK GDP would exclude which of the following?

1

How is your purchase of a €40,000 BMW automobile that was produced entirely in Germany recorded in the UK GDP accounts?

1

If your grandparents buy a newly built retirement home, this transaction would affect

1

Inflation can be measured by all of the following except the

1

The CPI will be most influenced by a 10 percent increase in the price of which of the following consumption categories?

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In 1989, the CPI was 124.0. In 1990, it was 130.7. What was the rate of inflation over this period?

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Which of the following would probably cause the CPI to rise more than the GDP deflator in the UK?

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The "basket" on which the CPI is based is composed of

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If there is an increase in the price of apples which causes consumers to purchase fewer kilograms of apples and more kilograms of oranges, the CPI will suffer from

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What is the value of the basket in the base year?

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What are the values of the CPI in 2000, 2001, and 2002, respectively?

1

What is the inflation rate for 2001?

1

What is the inflation rate for 2002?

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The table shows that the 2001 inflation rate is biased upward because of

1

Suppose the base year is changed in the table from 2000 to 2002 (now use the 2002 consumption basket). What is the new value of the CPI in 2001?

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Suppose your income rises from €19,000 to €31,000 while the CPI rises from 122 to 169. Your standard of living has likely

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If the nominal interest rate is 7 percent and the inflation rate is 3 percent, then the real interest rate is

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Which of the following statements is correct?

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If inflation is 8 percent and the real interest rate is 3 percent, then the nominal interest rate must be

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Under which of the following conditions would you prefer to be the lender?

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Under which of the following conditions would you prefer to be the borrower?

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If borrowers and lenders agree on a nominal interest rate and inflation turns out to be less than they had expected,

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If workers and firms agree on an increase in wages based on their expectations of inflation and inflation turns out to be more than they expected,

Hell on Earth (Quizzes #2 & #3 [Chapters 1-3, 4-6, 13-17-18, 23-24]) Economics [Teacher: Abdinova Makpal ; Final Exam + Quizzes] ▼ Test sobre Quiz #2/3 [MCQ | Chapters 23-24], creado por Good Guy Beket el 02/12/2018.

Quiz #2/3 [MCQ | Chapters 23-24]

An example of a transfer payment is

The value of plant and equipment worn out in the process of manufacturing goods and services is measured by

Which of the following would be excluded from UK GDP for 2005? The sale of?

Gross Domestic Product can be measured as the sum of

UK Gross Domestic Product (in contrast to Gross National Product) measures the production and income of

Gross Domestic Product is the sum of the market value of the

If nominal GDP in 2005 exceeds nominal GDP in 2004, then the production of output

If a cobbler buys leather for €100 and thread for €50 and uses them to produce and sell €500 worth of shoes to consumers, the contribution to GDP is

GDP would include which of the following?

Real GDP is measured in ________ prices while nominal GDP is measured in ________ prices.

What is the value of real GDP for 2004?

What is the value of the GDP deflator in 2004?

What is the percentage increase in prices from 2003 to 2004?

What is the approximate percentage increase in prices from 2004 to 2005?

What is the percentage increase in real GDP from 2004 to 2005?

If UK GDP exceeds UK GNP, then

UK GDP would exclude which of the following?

How is your purchase of a €40,000 BMW automobile that was produced entirely in Germany recorded in the UK GDP accounts?

If your grandparents buy a newly built retirement home, this transaction would affect

Inflation can be measured by all of the following except the

Real GDP is measured in prices while nominal GDP is measured in prices.