Macro Ch5 Online Questions

Macro Ch5 Online Questions - Chapter 5 Review Questions 1....

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Chapter 5 Review Questions 1. What is the difference between final goods and intermediate goods? Why is it that only the value of final goods and services is counted in GDP? 2. What is the relationship between private investment and the capital stock? What are the three components of private investment? 3. Describe the different kinds of factor payments. 4. What is the difference between nominal and real variables? What is the main problem with using nominal variables to track the economy? 5. Discuss the value and reliability of GDP statistics in both short-run and long-run analyses of the economy. 6. Real GDP (in 1996 dollars) was measured at around $8.8 trillion in 1999. Was the actual value of goods and services produced in the United States in 1999 likely to have been higher or lower than that? Why? 7. What, if anything, could the government do to reduce frictional and structural unemployment? 8. Categorize each of the following according to the type of unemployment it reflects. Justify
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This note was uploaded on 11/07/2010 for the course ECON 0001 taught by Professor Kitsikopoulos during the Spring '08 term at NYU.

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Macro Ch5 Online Questions - Chapter 5 Review Questions 1....

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