Gdp price deflator Study guides, Class notes & Summaries

Intermediate Economics: Final Exam Multiple Choice Questions & Answers, rated A+ The prices for which of the following goods are included in both the GDP deflator and the consumer price index? A) goods bought by households B) goods bought by firms C) goods bought by governments D) goods bought by foreign households (i.e. exports) E) all of the above - -A) goods bought by households 2) Changes in GDP in the medium run are determined primarily by A) demand factors. B) supply factors...

To judge whether or not an economy is doing well, it is useful to look at a. GDP b. the inflation rate c. the unemployment rate d. the trade deficit - Answer a. GDP The US Gross domestic product (GDP) is the market value of all final goods and services produced ........ in a given period of time. a. By all permanent residents and foreigners with in the border of the US b. by all American companies no matter where c. By all of the US citizens all around the world. d. Inside and o...

in current year/ market basket price in base year)*100 Limitations of GDP - answer1. Doesn't account for change in quality. 2. Doesn't account for underground economy. 3. Doesn't account for 'bads' of economy 4. Doesn't account for non-market production Limitations of CPI - answerSubstitution bias, increase in quality bias, new product bias, outlet bias. Core Inflation - answerignores food/energy, as they can be more volatile Headline inflation - answertakes food and energy in to ...

UGBA 101b EXAM 1 REVIEWEndogenous variables - correct answer variables that a model tries to explain Exogenous variables - correct answer autonomous factors that come from outside a theoretical model or system and that cannot be explained by the system GDP - correct answer Y = C + I + G + NX G includes - correct answer spending on goods and services: for example - purchases of trains/installation of subway rail. G excludes - correct answer transfer payments (unemployment) bc they do ...

BEC FormulasReal GDP - correct answer Nominal GDP/GDP Deflator x 100 Multiplier effect - correct answer 1/(1-MPC) The expenditure approach - correct answer Government Purchases Gross Domestic Investment Personal Consumption Net Exports The income approach - correct answer Income of proprietors Profits of corporations Interest (net) Rental Income Adjustments for Net Foreign Income and miscellaneous items Taxes Employee Compensation Depreciation Net National Product - correct...

6 Stages of Financial Planning - Answer-1. Establish client planner relationship. 2. Gather data and objectives. 3. Analyze and Evaluate financial status. 4. Develop plan and present recommendations. 5. Implement. 6. Monitor. Disposable Income (DI) - Answer-PI - personal taxes GDP does not measure - Answer-Utility/usefulness Per capital output What is produced or how it is allocated Quality of output Nonpaid productive output (like people mowing their own lawns) Unrepo...

Inflation Questions with complete solution What is inflation ? - correct answer % Change in the price level What is the formula for inflation? - correct answer (Current years price level - Last years price level ___________________ Last years Price Level ) *100 The average level of prices are measured by ______ - correct answer Price Indices 2 different price indices are ___1___ and ___2___ - correct answer 1. Consumer Price Index (CPI) 2. GDP Deflator What does the Co...

If capital grows at 2 percent per year and labor grows at 1 percent per year, and capital's share is 1/3 while labor's share is 2/3, if there is no technological progress and the neoclassical assumptions hold, the growth rate of output will be: correct answers 4/3 percent per year Over the past 50 years in the United States: correct answers output per worker, the real wage, and the capital stock per worker have all increased at the same rate, whereas the real rental price of capital has rem...

Econ 104 Final – Goffe Exam Questions and Answers | 100% Pass!! Nominal GDP -Answer-the value of final goods and services evaluated at current-year prices How to calculate nominal GDP -Answer-C + I + G +NX Real GDP -Answer-The value of final goods and services evaluated at base-year prices How to calculate real GDP -Answer-P*Q for every good in GDP and add them all together BASE YEAR 2014 - 100M visits at $50 each 2015 - 103M visits at $53 10M cars at $20,000 each 11M cars at $20,500...

ECON 1110 Ellis UNT Exam 1 Questions and Answers Rated A Macroeconomics Study of economy as a whole; national based Microeconomics Studies decisions of individuals, households, and firms; businesses Scarcity exists because there are not enough resources available to produce all the goods and services that people want and need Choice one alternative is selected over another Opportunity Cost the best alternative given up when we make a choice or a decision Factors of Production (Resources/Inp...