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Practice second exam Spring 2010

# Practice second exam Spring 2010 - Practice second exam...

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Practice second exam Spring 2010 Student: ___________________________________________________________________________ 1. National-income accounts assist: A. Market investors in making more profitable investments. B. Individuals in maximizing their incomes. C. Economic policy makers in formulating policies and evaluating performance. D. Analysts in measuring the performance of the stock market. 2. A nation's GDP can be calculated as: A. The sum of value added and intermediate goods. B. The total value added at all stages of production. C. NI plus depreciation. D. PI plus depreciation. 3. Suppose Blu-Ray players cost consumers \$300 and Blu-Ray discs cost consumers \$30. What contribution does the production of 250 Blu-Ray players and 3000 Blu-Ray discs make to the GDP? 4. Which of the following is treated differently in computations of GNP as compared with GDP? 5. Which of the following would be included in U.S. GNP but not in U.S. GDP?

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6. GDP per capita: A. Is equal to a nation's GDP divided by its population. B. Does not permit comparisons of the economic welfare of different nations. C. Is real GDP corrected for price-level changes. D. Indicates the most efficient use of resources. 7. If a nation has GDP of \$12,500 billion and GDP per capita of \$62,500, what is the nation's population? 8. Suppose you volunteer to help clean up your neighborhood and the only payment you receive is the sense of goodwill that develops with your neighbors. Your efforts cause the GDP of the economy to: 9. Which of the following is directly included in the calculation of GDP?
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Practice second exam Spring 2010 - Practice second exam...

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