Macroeconomics Essay

If an economy produces last output expense $5 cardinal, then the amount of earn income generated by that harvestingion is $5 trillion 2. Which of the by-line would not be Ian disbursal on a final approximate or service? a medical checkup clinics purchase of flu vaccinum 3. Which of the avocation would be include in gross domestic product? payment of the monthly cry bill by Mr. Laconic 4. using up in the expenditures approach to calculating gross domestic product includes purchases of medical services at the topical anaesthetic clinic 5.Which of the following is not considered a section of investment when alculating gross domestic product? purchases of corporate store 6. Which of the following is not included in gross domestic product? interest payments on the matter debt 7. Which of the following would not increase U. S. gross domestic product? increased shipments of Ghanian cocoa to the coupled States on Greek vessels 8. A husbandman grows wheat and sells it to a bakehouse for $5. The bakery bakes the wheat into bread, which it sells to a allocator for $20. The distributor sells the bread to a supermarket for $30, which sells the bread to customers for $50.Which of the following is trustworthy? The supermarket contributed more, in cheer added, than the bakery. 9. The unanalyzable tirade flow model shows that households atomic number 18 on the supply side of the option market and the demand side of the product market 10. Suppose that the economy is in equilibrium with a trade famine and that saving is greater than investment. According to the circular flow model, the governments figure essential be in shortfall 1 1 . Which of the following statements is true regarding leakages and injections?Since leakages equal injections, aggregate income equals aggregate expenditure. 2. Which of the following is an injection into the circular flow? slay payments 13. Which of the following would not be included in the measurement of GDP? transa ctions in the underground economy 14. GDP is a poor measure of affectionate well-being because the value of leisure cadence is not counted in GDP 15. habituated the following hypothetical data C = $3,000 I = $1,200 G = $2,000 X- M $ euchre depreciation = $200 transfer payments = $800, gelt domestic product is $5,500 16.Limitations of the national income accountancy corpse include valuing all output t its market bell irrespective of whether it contributes to a societys economic welfare 17. The price index in the base class always equals one hundred 18. Exhibit 01 merchandise Bread mucilage Quantity in market basketful 10 5 50 expenditure in base year $1. 00 1. 00 0. 20 received year $1. 50 2. 00 0. 50 Use the information in Exhibit 01 to judge the consumer price index in the current year. cost-of-living index = 200 19. If real GDP in a particular year is $5,000 trillion and nominal GDP in that same year is $4,000 trillion, then the GDP price index is 80 20.A major dif ference between the consumer price index and the GDP price index is that the CPI includes a sample of goods consumed, including imported goods, and the price index includes all domestically produced goods 21 . In double-entry book keeping system of GDP the value of output produced must equal the value of resource payments generated in producing that output 22. Gross Domestic Product measures the market value of all final goods and services produced by resources located at bottom a nation regardless of who owns those resources 23. The value of the films produced in the United States starring Charlie