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Assignment -2 Macroeconomics
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Assignment #2 MacroeconomicsGDP - To judge whether or not an economy is doing well, it is useful to look at ______
by all permanent resident and foreigners within the border of the US - The US Gross
domestic product (GDP) is the market value of all final goods and services
produced ........................ in a given period of time.
the market value of all final goods and services produced within a country in a given
period of time - Which of the following is the correct definition of GDP?
make GDP rise over time - Over time people have come to rely more on market-
produced goods and less on goods that they produce for themselves. For example
people eat at restaurants relatively more and prepare their own meals at home relatively
less. By itself this change would
Investment in new homes by the home owners - Consumption spending refers to the
spending by households, with the exception of purchases of
final goods if used by consumer as a fruit but if they are used to produce wine it is
intermediate goods - Grapes are
The value of increased inventory will be counted as part of GDP in 2014, but the value
of the cars sold in 2015 will not cause GDP to increase - The local Chevrolet dealership
has an increase in inventory of 25 cars in 2014. In 2015, it sells all 25 cars.
Italian GNP and US GDP - An Italian company opens a pasta company in the U.S. The
profits from this pasta company are included in
included in GDP - After the terrorist attack on September 11, governments raised
expenditures to increase security at airports. These purchases of goods and services
are
all three governments, Federal, State and Local - Government purchases is a part of
GDP, it refers to spending on goods and services by
2014 than in 2015, and real GDP in 2015 was higher than in 2016 - From this
information we can conclude that real GDP was higher in
$100, real 2017 GDP is $50, and the GDP deflator is 200 - Suppose GDP consists of
wheat and rice. In 2017, 20 bushels of wheat are sold at $4 per bushel, and 10 bushels
of rice are sold at $2 per bushel. If the price of wheat was $2 per bushel and the price of
rice was $1 per bushel in 2016, the base year, nominal 2017 GDP is
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