Exam (elaborations)
MACROECONOMICS CH 7 QUESTIONS WITH CORRECT ANSWERS 2025
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MACROECONOMICS CH 7 QUESTIONS WITH CORRECT ANSWERS 2025
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MACROECONOMICS CH 7 QUESTIONSWITH CORRECT ANSWERS 2025
U.S.BGDPBinB2015BwasBaboutB-BcorrectBanswer-$18Btrillion
ArthurBsellsB$100BworthBofBcottonBtoBBob.BBobBturnsBtheBcottonBintoBcloth,BwhichBheBsellsBtoBCamilleBforB$
300.BCamilleBusesBtheBclothBtoBmakeBpromBdressesBthatBsheBsellsBtoBDonitaBforB$700.BDonitaBsellsBtheBdres
sesBforB$1,200BtoBkidsBattendingBtheBprom.BTheBtotalBcontributionBtoBGDPBofBthisBseriesBofBtransactionsBisB-
BcorrectBanswer-$1200B(sellingBprice=BcontributionBtoBGDP)
ReferBtoBtheBaccompanyingBdata.BAllBfiguresBareBinBbillionsBofBdollars.BTheBgrossBdomesticBproductBisB-
BcorrectBanswer-$307
InBaBtypicalByear,BwhichBofBtheBfollowingBmeasuresBofBaggregateBoutputBandBincomeBisBlikelyBtoBbeBtheBsma
llest?B-BcorrectBanswer-disposableBincome
TransferBpaymentsBareBincludedBinB-BcorrectBanswer-PIB(PersonalBIncome)
SupposeBthatBGDPBwasB$200BbillionBinByearB1BandBthatBallBotherBcomponentsBofBexpendituresBremainedBth
eBsameBinByearB2BexceptBthatBbusinessBinventoriesBfellBbyB$10Bbillion.BGDPBinByearB2BisB-BcorrectBanswer-
$190Bbillion
TheBvalueBofBtransactionsBinBtheBundergroundBeconomyBisBestimatedBtoBbeBaboutBwhatBpercentageBofBGD
PBinBtheBUnitedBStates?B-BcorrectBanswer-8%
PersonalBincomeB(PI)BisBtheBincomeBthatBhouseholdsBareBfreeBtoBspendBorBsaveBasBtheyBplease.B-
BcorrectBanswer-False:BIncomeBwithoutBtaxes
InB2012,BTrailblazerBBicycleBCompanyBproducedBaBmountainBbikeBthatBwasBdeliveredBtoBaBretailBoutletBinBN
ovemberB2012.BTheBbicycleBwasBsoldBtoBE.Z.BRyderBinBMarchB2013.BThisBbicycleBisBcountedBasB-
BcorrectBanswer-investmentBinB2012BandBasBnegativeBinvestmentBinB2013
IfBrealBdisposableBincomeBfellBduringBaBparticularByear,BweBcanBconcludeBthatB-BcorrectBanswer-
NoneBofBtheseBoccurredB(personalBtaxesBincreased,BinflationBoccurred,BtransferBpaymentsBdeclined)
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