Which of the following would be counted in this year's GDP? Od The bonus check a worker receives this year the value of a loan taken out this year The value of a savings bond sold by the federal government to investors this year The value of a television produced last year but sold this year
Which of the following would be counted in this year's GDP? Od The bonus check a worker receives this year the value of a loan taken out this year The value of a savings bond sold by the federal government to investors this year The value of a television produced last year but sold this year
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Measuring A Nation's Income
Section: Chapter Questions
Problem 6PA
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![Question 7
Which of the following would be counted in this year's GDP?
O a
O b
O C
Od
Question &
What is the difference between real GDP and nominal GDP?
O a
O b
Column A
1.
2.
C
d
Question 9
Match each phase of the business cycle to its correct definition.
3.
The bonus check a worker receives this year
the value of a loan taken out this year
The value of a savings bond sold by the federal government to investors this year
The value of a television produced last year but sold this year
4
Real GDP allows for depreciation; nominal GDP allows for no depreciation.
Real GDP includes nonmarket activities; nominal GDP has no nonmarket activities.
Real GDP is based on constant prices; nominal GDP is based on the current year's prices.
Real GDP is accurate to hundreds of dollars; nominal GDP is accurate to thousands of dollars.
period of economic decline marked by falling
real GDP
a period of economic growth as measured by a
rise in real GDP
the height of an economic expansion, when real
GDP stops rising
the lowest point in an economic contraction,
when real gross domestic product stops falling
Column B
a.
expansion
b. peak
c. trough
d. contraction](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Feed7ea69-e7c2-4c9b-8533-e80eae1cfee4%2Fdfb6aee4-0cbd-4110-a641-625bf937f9e4%2Frqzs64_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 7
Which of the following would be counted in this year's GDP?
O a
O b
O C
Od
Question &
What is the difference between real GDP and nominal GDP?
O a
O b
Column A
1.
2.
C
d
Question 9
Match each phase of the business cycle to its correct definition.
3.
The bonus check a worker receives this year
the value of a loan taken out this year
The value of a savings bond sold by the federal government to investors this year
The value of a television produced last year but sold this year
4
Real GDP allows for depreciation; nominal GDP allows for no depreciation.
Real GDP includes nonmarket activities; nominal GDP has no nonmarket activities.
Real GDP is based on constant prices; nominal GDP is based on the current year's prices.
Real GDP is accurate to hundreds of dollars; nominal GDP is accurate to thousands of dollars.
period of economic decline marked by falling
real GDP
a period of economic growth as measured by a
rise in real GDP
the height of an economic expansion, when real
GDP stops rising
the lowest point in an economic contraction,
when real gross domestic product stops falling
Column B
a.
expansion
b. peak
c. trough
d. contraction
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