macroeconomics Test2

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1、ECON2803Spring2010Test2MultipleChoiceIdentifytheletterofthechoicethatbestcompletesthestatementoranswersthequestion.____1.Overtime,peoplehavecometorelymoreonmarket-producedgoodsandlessongoodsthattheyproduceforthemselves.Forexample,busypeoplewithhighincomes,ratherthancleaningtheirownhouses,hir

2、epeopletocleantheirhouses.Byitself,thischangehasa.causedmeasuredGDPtofall.b.notcausedanychangeinmeasuredGDP.c.causedmeasuredGDPtorise.d.probablychangedmeasuredGDP,butinanuncertaindirection;thedirectionofthechangedependsonthedifferenceinthequalityofthecleaningthathasresulted.____2.Transaction

3、sinvolvingitemsproducedinthepast,suchasthesaleofa5-year-oldautomobilebyausedcardealershiporthepurchaseofanantiquerockingchairbyapersonatayardsale,area.includedincurrentGDPbecauseGDPmeasuresthevalueofallgoodsandservicessoldinthecurrentyear.b.includedincurrentGDPbutvaluedattheiroriginalprices.

4、c.notincludedincurrentGDPbecauseGDPonlymeasuresthevalueofgoodsandservicesproducedinthecurrentyear.d.notincludedincurrentGDPbecausetheseitemshavenocurrentvalue.____3.Transferpaymentsarea.includedinGDPbecausetheyrepresentincometoindividuals.b.includedinGDPbecausetheyeventuallywillbespentoncons

5、umption.c.notincludedinGDPbecausetheyarenotpaymentsforcurrentlyproducedgoodsorservices.d.notincludedinGDPbecausetaxeswillhavetoberaisedtopayforthem.____4.RealGDPistheyearlyproductionoffinalgoodsandservicesvaluedata.currentprices.b.constantprices.c.expectedfutureprices.d.theratioofcurrentpric

6、estoconstantprices.____5.ChangesinnominalGDPreflecta.onlychangesinprices.b.onlychangesintheamountsbeingproduced.c.bothchangesinpricesandchangesintheamountsbeingproduced.d.neitherchangesinpricesnorchangesintheamountsbeingproduced.Table23-4ThetablebelowcontainsdataforthecountryofDachsland,whic

7、hproducesonlypretzelsandbooks.Thebaseyearis2005.YearPriceofPretzelsQuantityofPretzelsPriceofBooksQuantityofBooks2005$4.0090$1.501502006$4.00100$2.001802007$5.00120$2.502002008$6.00150$3.50200____6.RefertoTable23-4.In2005,Dachsland’sa.nominalGDPwasg