Suppose that GDP was $200 billion in year 1 and that all other components of expenditures remained thesame in year 2 except that business inventories fell by $10 billion. GDP in year 2 is:

Nominal GDP was $130 and $150 in years 1 and 2 respectively. Real GDP was $100 and $110 in years 1and 2 respectively. On the basis of this information we can conclude that:

In 1933 net private domestic investment was a minus $6.0 billion. This means that:

Suppose nominal GDP in 2002 was $100 billion and in 2003 it was $260 billion. The general price index in2002 was 100 and in 2003 it was 180. Between 2002 and 2003 the real GDP rose by:

In a typical year which of the following measures of aggregate output and income is likely to be thesmallest?

The amount of after-tax income received by households is measured by:

In determining real GDP economists adjust the nominal GDP by using the:

If depreciation (consumption of fixed capital) exceeds domestic investment, we can conclude that:

If net foreign factor income earned in the U.S. is zero, the sum of national income, indirect business taxes,and the consumption of fixed capital equals:

In the second quarter (3-month period) of 2001, U.S. nominal GDP increased but U.S. real GDP declined.We can conclude that:

In a typical year which of the following measures of aggregate output and income is likely to be thesmallest?

In determining real GDP economists adjust the nominal GDP by using the:

The amount of after-tax income received by households is measured by:

Which of the following is the smallest dollar amount in the United States?

The largest component of national income is:

In determining real GDP economists adjust the nominal GDP by using the:

Suppose nominal GDP in 2002 was $100 billion and in 2003 it was $260 billion. The general price index in2002 was 100 and in 2003 it was 180. Between 2002 and 2003 the real GDP rose by:

Suppose that GDP was $200 billion in year 1 and that all other components of expenditures remained thesame in year 2 except that business inventories fell by $10 billion. GDP in year 2 is:

Suppose that GDP was $200 billion in year 1 and that all other components of expenditures remained thesame in year 2 except that business inventories increased by $10 billion. GDP in year 2 is:

If net foreign factor income earned in the U.S. is zero, the sum of national income, indirect business taxes,and the consumption of fixed capital equals:

If nominal GDP in some year is $280 and real GDP is $160. The GDP price index for that year is:

Nominal GDP is adjusted for price changes through the use of:

In comparing GDP data over a period of years, a difference between nominal and real GDP may arisebecause:

In national income accounting, consumption expenditures include purchases of:

Suppose that GDP was $200 billion in year 1 and that all other components of expenditures remained thesame in year 2 except that business inventories increased by $10 billion. GDP in year 2 is:

Suppose a nation's 2003 nominal GDP was $972 billion and the general price index was 90. To make the2003 GDP comparable with the base year GDP, the 2003 GDP must be:

The ZZZ Corporation issued $25 million in new common stock in 2004. It used $18 million of the proceedsto replace obsolete equipment in its factory and $7 million to repay bank loans. As a result, investment:

In 2003 Trailblazer Bicycle Company produced a mountain bike that was delivered to a retail outlet inNovember of 2003. The bicycle was sold to E.Z. Ryder in March of 2004. This bicycle is counted as:

In determining real GDP economists adjust the nominal GDP by using the:

In national income accounting, consumption expenditures include purchases of:

The amount of after-tax income received by households is measured by:

The total amount of income earned by U.S. resource suppliers in a year is measured by:

Ap Econ: 6 Quiz - MCQExams.com

190 billion

0%
Nominal GDP was $130 and $150 in years 1 and 2 respectively. Real GDP was $100 and $110 in years 1and 2 respectively. On the basis of this information we can conclude that:
0%
Suppose that GDP was $200 billion in year 1 and that all other components of expenditures remained thesame in year 2 except that business inventories fell by $10 billion. GDP in year 2 is:
0%
In 1933 net private domestic investment was a minus $6.0 billion. This means that:
0%
Suppose nominal GDP in 2002 was $100 billion and in 2003 it was $260 billion. The general price index in2002 was 100 and in 2003 it was 180. Between 2002 and 2003 the real GDP rose by:

changes in nominal GDP understate changes in real GDP.

0%
When an economy's production capacity is expanding:
0%
In an economy experiencing persistent deflation:
0%
Which of the following is not economic investment?
0%
In national income accounting, consumption expenditures include purchases of:

the market value or cost of the resources used in the production of the national output.

0%
A nation's gross domestic product (GDP):
0%
National income accountants can avoid multiple counting by:
0%
National income accountants define investment to include:
0%
National income measures:

all incomes earned by U.S. resource suppliers for their current contributions to production

0%
Which of the following is an intermediate good?
0%
Which of the following best defines national income?
0%
Which of the following is the largest dollar amount in the United States?
0%
(Consider This) In terms of a reservoir analogy, the:

is the dollar value of the total output produced within the borders of the nation.

0%
In calculating the GDP national income accountants:
0%
National income measures:
0%
In national income accounting, consumption expenditures include purchases of:
0%
A nation's gross domestic product (GDP):

add increases in inventories or subtract decreases in inventories.

0%
In national income accounting, consumption expenditures include:
0%
In calculating the GDP national income accountants:
0%
Which of the following is not economic investment?
0%
Which of the following is an intermediate good?

GDP in 2004 is $500 billion.

0%
Suppose nominal GDP was $360 billion in 1990 and $450 billion in 2000. The appropriate price index
0%
Nominal GDP was $130 and $150 in years 1 and 2 respectively. Real GDP was $100 and $110 in years 1and 2 respectively. On the basis of this information we can conclude that:
0%
Suppose the total market value of all final goods and services produced in a particular country in 2004 is$500 billion and the total market value of final goods and services sold is $450 billion. We can conclude that:
0%
In 2003 Trailblazer Bicycle Company produced a mountain bike that was delivered to a retail outlet inNovember of 2003. The bicycle was sold to E.Z. Ryder in March of 2004. This bicycle is counted as:

GDP will tend to increasingly understate the level of output through time.

0%
By summing the dollar value of all market transactions in the economy we would:
0%
In the second quarter (3-month period) of 2001, U.S. nominal GDP increased but U.S. real GDP declined.We can conclude that:
0%
Assume that the size of the underground economy increases both absolutely and relatively over time. As aresult:
0%
Suppose that inventories were $40 billion in 2003 and $50 billion in 2004. In 2004, accountants would:

general price level has increased

0%
Historically, real GDP has increased less rapidly than nominal GDP because:
0%
Nominal GDP is adjusted for price changes through the use of:
0%
In an economy experiencing a declining production capacity:
0%
By summing the dollar value of all market transactions in the economy we would:

the sum of all monetary transactions involving final goods and services that occur in the economy in ayear

0%
real GDP is
0%
NDP is:
0%
Nominal GDP is:
0%
A price index is:

the price level may change over time.

0%
In comparing GDP data over a period of years, a difference between nominal and real GDP may arisebecause:
0%
In 1933 net private domestic investment was a minus $6.0 billion. This means that:
0%
In determining real GDP economists adjust the nominal GDP by using the:
0%
Nominal GDP was $130 and $150 in years 1 and 2 respectively. Real GDP was $100 and $110 in years 1and 2 respectively. On the basis of this information we can conclude that:

increased by $65 billion.

0%
If depreciation (consumption of fixed capital) exceeds domestic investment, we can conclude that:
0%
Suppose a nation's 2003 nominal GDP was $972 billion and the general price index was 90. To make the2003 GDP comparable with the base year GDP, the 2003 GDP must be:
0%
Suppose nominal GDP was $360 billion in 1990 and $450 billion in 2000. The appropriate price index
0%
If in some year gross investment was $120 billion and net investment was $65 billion, then in that year thecountry's capital stock:

investment in 2003 and as disinvestment in 2004.

0%
Suppose the total market value of all final goods and services produced in a particular country in 2004 is$500 billion and the total market value of final goods and services sold is $450 billion. We can conclude that:
0%
The ZZZ Corporation issued $25 million in new common stock in 2004. It used $18 million of the proceedsto replace obsolete equipment in its factory and $7 million to repay bank loans. As a result, investment:
0%
In the treatment of U.S. exports and imports, national income accountants:
0%
In 2003 Trailblazer Bicycle Company produced a mountain bike that was delivered to a retail outlet inNovember of 2003. The bicycle was sold to E.Z. Ryder in March of 2004. This bicycle is counted as:

disposable income

0%
In a typical year which of the following measures of aggregate output and income is likely to be thesmallest?
0%
The amount of after-tax income received by households is measured by:
0%
In determining real GDP economists adjust the nominal GDP by using the:
0%
If depreciation (consumption of fixed capital) exceeds domestic investment, we can conclude that:

GDP

0%
In the second quarter (3-month period) of 2001, U.S. nominal GDP increased but U.S. real GDP declined.We can conclude that:
0%
In a typical year which of the following measures of aggregate output and income is likely to be thesmallest?
0%
If net foreign factor income earned in the U.S. is zero, the sum of national income, indirect business taxes,and the consumption of fixed capital equals:
0%
In determining real GDP economists adjust the nominal GDP by using the:

subtracted from exports when calculating GDP because imports do not constitute production in theUnited States.

0%
Which of the following best defines national income?
0%
A nation's gross domestic product (GDP):
0%
The value of U.S. imports is:
0%
Nominal GDP is:

during a period of recession or depression.

0%
Historically, real GDP has increased less rapidly than nominal GDP because:
0%
Personal income is most likely to exceed national income:
0%
In national income accounting, government purchases include:
0%
The fact that nominal GDP has risen faster than real GDP:

purchases by Federal, state, and local governments.

0%
In national income accounting, government purchases include:
0%
National income accountants define investment to include:
0%
National income accountants can avoid multiple counting by:
0%
Personal income is most likely to exceed national income:

gross investment isused in calculating GDP and net investment isused in calculating NDP.

0%
Which of the following best defines national income?
0%
Net exports are negative when:
0%
The concept of net domestic investment refers to:
0%
GDP differs from NDP in that:

the economy's stock of capital is shrinking.

0%
If the economy adds to its inventory of goods during some year:
0%
If depreciation exceeds gross investment:
0%
In calculating the GDP national income accountants:
0%
In an economy experiencing persistent deflation:

excluded when calculating GDP because they do not reflect current production.

0%
Gross investment refers to:
0%
Real GDP refers to:
0%
Transfer payments are included in:
0%
Transfer payments are:

current output at base year prices.

0%
If real GDP rises and the GDP price index has increased:
0%
real GDP is
0%
Net exports are:
0%
Real GDP measures:

domestic investment exceeds depreciation.

0%
When an economy's production capacity is expanding:
0%
In an economy experiencing persistent deflation:
0%
The concept of net domestic investment refers to:
0%
The largest component of national income is:

inflow from the river is gross investment.

0%
An economy is enlarging its stock of capital goods:
0%
When an economy's production capacity is expanding:
0%
Real GDP and nominal GDP differ because the real GDP:
0%
(Consider This) In terms of a reservoir analogy, the:

when gross investment exceeds replacement investment.

0%
An economy is enlarging its stock of capital goods:
0%
A nation's stock of capital goods will decline when:
0%
If the economy adds to its inventory of goods during some year:
0%
(Consider This) In terms of a reservoir analogy, the:

net investment is negative.

0%
In the second quarter (3-month period) of 2001, U.S. nominal GDP increased but U.S. real GDP declined.We can conclude that:
0%
If depreciation (consumption of fixed capital) exceeds domestic investment, we can conclude that:
0%
If depreciation exceeds gross investment:
0%
Suppose nominal GDP was $360 billion in 1990 and $450 billion in 2000. The appropriate price index

disposable income.

0%
Which of the following is the smallest dollar amount in the United States?
0%
The amount of after-tax income received by households is measured by:
0%
The largest component of national income is:
0%
In determining real GDP economists adjust the nominal GDP by using the:

gross domestic product

0%
Consumption of fixed capital (depreciation) can be determined by:
0%
Which of the following is the largest dollar amount in the United States?
0%
Which of the following is the smallest dollar amount in the United States?
0%
The smallest component of aggregate spending in the United States is:

the production of 1933's GDP used up more capital goods than were produced in that year.

0%
In the second quarter (3-month period) of 2001, U.S. nominal GDP increased but U.S. real GDP declined.We can conclude that:
0%
In comparing GDP data over a period of years, a difference between nominal and real GDP may arisebecause:
0%
Suppose that inventories were $40 billion in 2003 and $50 billion in 2004. In 2004, accountants would:
0%
In 1933 net private domestic investment was a minus $6.0 billion. This means that:

the purchase of baseball uniforms by a professional baseball team.

0%
In calculating the GDP national income accountants:
0%
An economy is enlarging its stock of capital goods:
0%
Which of the following is an intermediate good?
0%
Which of the following is not economic investment?

exports less imports.

0%
Net exports are:
0%
Real GDP measures:
0%
Net exports are negative when:
0%
The GDP price index:

subtract $10 billion from other elements of investments in calculating total investment

0%
If personal income exceeds national income in a particular year, we can conclude that:
0%
In national income accounting, consumption expenditures include purchases of:
0%
Suppose that inventories were $80 billion in 2003 and $70 billion in 2004. In 2004, accountants would
0%
Suppose nominal GDP was $360 billion in 1990 and $450 billion in 2000. The appropriate price index

includes all goods comprising the nation's domestic output.

0%
Real GDP and nominal GDP differ because the real GDP:
0%
The GDP price index:
0%
(Consider This) Capital is a:
0%
Nominal GDP is:

NI plus net foreign factor income earned in the U.S. plus indirect business taxes.

0%
A price index is:
0%
The GDP price index:
0%
NDP is:
0%
Nominal GDP is:

inflated to $1080 billion.

0%
Suppose a nation's 2003 nominal GDP was $972 billion and the general price index was 90. To make the2003 GDP comparable with the base year GDP, the 2003 GDP must be:
0%
Suppose that GDP was $200 billion in year 1 and that all other components of expenditures remained thesame in year 2 except that business inventories increased by $10 billion. GDP in year 2 is:
0%
Suppose nominal GDP in 2002 was $100 billion and in 2003 it was $260 billion. The general price index in2002 was 100 and in 2003 it was 180. Between 2002 and 2003 the real GDP rose by:
0%
If in some year gross investment was $120 billion and net investment was $65 billion, then in that year thecountry's capital stock:

44 %

0%
Suppose that GDP was $200 billion in year 1 and that all other components of expenditures remained thesame in year 2 except that business inventories fell by $10 billion. GDP in year 2 is:
0%
Suppose nominal GDP in 2002 was $100 billion and in 2003 it was $260 billion. The general price index in2002 was 100 and in 2003 it was 180. Between 2002 and 2003 the real GDP rose by:
0%
Suppose that GDP was $200 billion in year 1 and that all other components of expenditures remained thesame in year 2 except that business inventories increased by $10 billion. GDP in year 2 is:
0%
If net foreign factor income earned in the U.S. is zero, the sum of national income, indirect business taxes,and the consumption of fixed capital equals:

of $18 million has occurred.

0%
Nominal GDP was $130 and $150 in years 1 and 2 respectively. Real GDP was $100 and $110 in years 1and 2 respectively. On the basis of this information we can conclude that:
0%
In 2003 Trailblazer Bicycle Company produced a mountain bike that was delivered to a retail outlet inNovember of 2003. The bicycle was sold to E.Z. Ryder in March of 2004. This bicycle is counted as:
0%
The ZZZ Corporation issued $25 million in new common stock in 2004. It used $18 million of the proceedsto replace obsolete equipment in its factory and $7 million to repay bank loans. As a result, investment:
0%
Suppose that GDP was $200 billion in year 1 and that all other components of expenditures remained thesame in year 2 except that business inventories fell by $10 billion. GDP in year 2 is:

business expenditures on machinery and equipment.

0%
An economy is enlarging its stock of capital goods:
0%
(Consider This) In terms of a reservoir analogy, the:
0%
If real GDP rises and the GDP price index has increased:
0%
As defined in national income accounting, investment includes

175

0%
Nominal GDP is adjusted for price changes through the use of:
0%
In comparing GDP data over a period of years, a difference between nominal and real GDP may arisebecause:
0%
If nominal GDP in some year is $280 and real GDP is $160. The GDP price index for that year is:
0%
In national income accounting, consumption expenditures include purchases of:

has been adjusted for changes in the price level.

0%
When an economy's production capacity is expanding:
0%
In an economy experiencing persistent deflation:
0%
Real GDP and nominal GDP differ because the real GDP:
0%
Which of the following is not economic investment?

government consumption goods and public capital goods.

0%
In calculating the GDP national income accountants:
0%
Government purchases include government spending on:
0%
When an economy's production capacity is expanding:
0%
Which of the following best defines disposable income?

net investment plus replacement investment.

0%
Transfer payments are:
0%
National income measures:
0%
(Consider This) Capital is a:
0%
Gross investment refers to:

210 billion

0%
Suppose a nation's 2003 nominal GDP was $972 billion and the general price index was 90. To make the2003 GDP comparable with the base year GDP, the 2003 GDP must be:
0%
The ZZZ Corporation issued $25 million in new common stock in 2004. It used $18 million of the proceedsto replace obsolete equipment in its factory and $7 million to repay bank loans. As a result, investment:
0%
In 2003 Trailblazer Bicycle Company produced a mountain bike that was delivered to a retail outlet inNovember of 2003. The bicycle was sold to E.Z. Ryder in March of 2004. This bicycle is counted as:
0%
Suppose that GDP was $200 billion in year 1 and that all other components of expenditures remained thesame in year 2 except that business inventories increased by $10 billion. GDP in year 2 is:

any increase in business inventories.

0%
In an economy experiencing persistent deflation:
0%
A nation's stock of capital goods will decline when:
0%
If real GDP rises and the GDP price index has increased:
0%
National income accountants define investment to include:

transferpaymentsexceededthesumofSocialSecuritycontributions,corporateincometaxes,andundistributed corporate profits.

0%
If personal income exceeds national income in a particular year, we can conclude that:
0%
If depreciation (consumption of fixed capital) exceeds domestic investment, we can conclude that:
0%
In national income accounting, consumption expenditures include purchases of:
0%
In national income accounting, consumption expenditures include:

GDP price index.

0%
In national income accounting, consumption expenditures include purchases of:
0%
The amount of after-tax income received by households is measured by:
0%
In determining real GDP economists adjust the nominal GDP by using the:
0%
The total amount of income earned by U.S. resource suppliers in a year is measured by:

obtain a sum substantially larger than the GDP

0%
In the treatment of U.S. exports and imports, national income accountants:
0%
By summing the dollar value of all market transactions in the economy we would:
0%
If the economy adds to its inventory of goods during some year:
0%
In national income accounting, consumption expenditures include purchases of:

the price level rose by more than nominal GDP

0%
In the second quarter (3-month period) of 2001, U.S. nominal GDP increased but U.S. real GDP declined.We can conclude that:
0%
In determining real GDP economists adjust the nominal GDP by using the:
0%
Nominal GDP was $130 and $150 in years 1 and 2 respectively. Real GDP was $100 and $110 in years 1and 2 respectively. On the basis of this information we can conclude that:
0%
In comparing GDP data over a period of years, a difference between nominal and real GDP may arisebecause:

Nominal GDP has increased

0%
If real GDP rises and the GDP price index has increased:
0%
Real GDP and nominal GDP differ because the real GDP:
0%
The largest component of national income is:
0%
If nominal GDP rises:

increased by $60 billion.

0%
Suppose that inventories were $80 billion in 2003 and $70 billion in 2004. In 2004, accountants would
0%
Suppose a nation's 2003 nominal GDP was $972 billion and the general price index was 90. To make the2003 GDP comparable with the base year GDP, the 2003 GDP must be:
0%
If depreciation (consumption of fixed capital) exceeds domestic investment, we can conclude that:
0%
Suppose nominal GDP was $360 billion in 1990 and $450 billion in 2000. The appropriate price index

a nation's imports exceed its exports.

0%
Net exports are:
0%
Net exports are negative when:
0%
(Consider This) Capital is a:
0%
Real GDP refers to:

total investment less the amount of investment goods used up in producing the year's output.

0%
The concept of net domestic investment refers to:
0%
The largest component of national income is:
0%
In calculating the GDP national income accountants:
0%
GDP differs from NDP in that:

this amount should be included in calculating that year's GDP.

0%
If the economy adds to its inventory of goods during some year:
0%
Consumption of fixed capital (depreciation) can be determined by:
0%
The concept of net domestic investment refers to:
0%
When an economy's production capacity is expanding:

quality of products and services improves.

0%
In the treatment of U.S. exports and imports, national income accountants:
0%
In the second quarter (3-month period) of 2001, U.S. nominal GDP increased but U.S. real GDP declined.We can conclude that:
0%
The growth of GDP may understate changes in the economy's economic well-being over time if the:
0%
As defined in national income accounting, investment includes

0:0:1

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