ANS T PTS 1 DIF Easy NAT BUSPROG Analytic TOP The Expenditure Approach KEY

Ans t pts 1 dif easy nat busprog analytic top the

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ANS:TPTS:1DIF:EasyNAT:BUSPROG: AnalyticTOP:The Expenditure ApproachKEY:Bloom's: Knowledge8.Net exports equal imports minus exports.ANS:FPTS:1DIF:EasyNAT:BUSPROG: AnalyticTOP:The Expenditure ApproachKEY:Bloom's: Knowledge9.Personal consumption expenditures is the smallest component of total spending.ANS:FPTS:1DIF:EasyNAT:BUSPROG: AnalyticTOP:The Expenditure ApproachKEY:Bloom's: Knowledge10.The expenditure approach measures GDP by adding the spending of households, businesses, government, and foreigners.
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ANS:TPTS:1DIF:EasyNAT:BUSPROG: AnalyticTOP:The Expenditure ApproachKEY:Bloom's: Knowledge11.Compensation of employees is the largest component of GDP using the income approach.ANS:TPTS:1DIF:EasyNAT:BUSPROG: AnalyticTOP:The Income ApproachKEY:Bloom's: Knowledge12.Gross domestic product (GDP) is a satisfactory measure of both economic "goods" and "bads".ANS:FPTS:1DIF:ModerateNAT:BUSPROG: AnalyticTOP:GDP ShortcomingsKEY:Bloom's: Comprehension13.The value of child-rearing and other household production are notincluded in GDP.ANS:TPTS:1DIF:EasyNAT:BUSPROG: AnalyticTOP:GDP ShortcomingsKEY:Bloom's: Knowledge14.GDP provides substantial information about an economy's income distribution.ANS:FPTS:1DIF:ModerateNAT:BUSPROG: AnalyticTOP:GDP ShortcomingsKEY:Bloom's: Comprehension15.National income (NI) is the total income earned by resource owners, including wages, rents, interest, and profits.ANS:TPTS:1DIF:ModerateNAT:BUSPROG: AnalyticTOP:Other National Income AccountsKEY:Bloom's: Knowledge16.Social Security payments are included in personal income.ANS:TPTS:1DIF:EasyNAT:BUSPROG: AnalyticTOP:Other National Income AccountsKEY:Bloom's: Knowledge17.Personal income minus personal taxes equals disposable personal income.ANS:TPTS:1DIF:EasyNAT:BUSPROG: AnalyticTOP:Other National Income AccountsKEY:Bloom's: Knowledge18.Nominal gross domestic product is based on the existing prices at which final goods are actually sold.ANS:TPTS:1DIF:EasyNAT:BUSPROG: AnalyticTOP:Changing Nominal GDP to Real GDPKEY:Bloom's: Knowledge19.In any year, nominal GDP divided by the GDP chain price index times 100 equals real GDP.ANS:TPTS:1DIF:ModerateNAT:BUSPROG: AnalyticTOP:Changing Nominal GDP to Real GDPKEY:Bloom's: Comprehension20.Real GDP, as opposed to money (nominal) GDP, has been adjusted for changes in the general level of prices.ANS:TPTS:1DIF:EasyNAT:BUSPROG: AnalyticTOP:Changing Nominal GDP to Real GDPKEY:Bloom's: Knowledge
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21.Nominal values are values measured in terms of the prices at which goods and services are actually sold.ANS:TPTS:1DIF:EasyNAT:BUSPROG: AnalyticTOP:Changing Nominal GDP to Real GDPKEY:Bloom's: Knowledge22.All changes in nominal GDP are due to price changes.
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  • Fall '15
  • National Income, pts, gross domestic product, Expenditure approach

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