Suppose that a straightforward economic climate produces just 4 goods and also services: shoes, DVDs, tomatoes, and ketchup. Assume one half of the tomatoes are provided in making the ketchup and also the various other fifty percent of the tomatoes are purchased by households. Using the information in the over table, nominal GDP for this basic economic climate equates to A) $7,400. B) $6,400. C) $5,800. D) 2,440 systems.

You are watching: According to the economy in figure 5.3, net exports


The purchase of a brand-new automobile by a consumer is consisted of in A) investment expenditures B) intake expenditures on services C) usage expenditures on nondurable goods D) usage expenditures on sturdy goods
Investment, as characterized by financial experts, would certainly encompass the purchase of a A) share of stock in ExxonMobil. B) computer system by an bookkeeping firm. C) government bond. D) corporate bond.
If a farmer grows a head of cabbage via fertilizer prices of $0.10 and also seed expenses of $0.15 and sells it to a wholesaler for $0.55, the complete value included by the farmer is A) $0.25. B) $0.35. C) $0.30. D) $0.55.
According to the economy in Figure 5.3, net exports A) Were a negative number from 1970 to 1985. B) Did not impact GDP from 1990 to 2000 bereason exports were higher than imports. C) Were an unfavorable number from 1990 to 2000. D) Made a positive contribution to GDP from 1970 to 1985.
Real GDP is more specific than nominal GDP in making comparisons of output over time because: A) Nominal GDP can increase ssuggest because of price increases over time. B) Real GDP is not affected by output alters. C) Nominal GDP is the theoretical output that would be produced at complete employment. D) Real GDP is not impacted by changes in productivity or the size of the labor force.

See more: Advantages And Disadvantages Of Homogeneous And Heterogeneous Groups


Which of the following is offered to meacertain GDP according to the income approach? A) Interest B) Investment C) Personal savings D) Consumption expenditures
Increases in genuine GDP would understate the health of a nation over time if, over that time period, the A) percent of human being addicted to illegal drugs increased. B) crime price raised. C) average hrs operated per week reduced. D) amount of air pollution diminished.
Which of the following could cause nominal GDP to decrease, but actual GDP to increase? A) The price level rises and the amount of final products and solutions developed falls. B) The price level falls and also the amount of final products and also services created falls. C) The price level falls and also the quantity of last goods and solutions created rises. D) The price level rises and the quantity of last products and services developed rises
Disposable revenue is equal to A) Personal taxes - personal income. B) Consumption + conserving. C) Personal taxes + individual earnings. D) Consumption - saving
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