Measuring output videos – MACRO MINI – 2019 SPRING
The key terms in these Measuring output videos – 2019 Spring – Macro Mini include Measuring output, Real GDP Per Capita
Item 1
Required information
Real GDP Per Capita Video
According to the video, which two countries have very similar real GDP but very dissimilar real GDP per capita?
Multiple Choice
- Brazil and Canada Correct
- Canada and Mexico
- Italy and India
- Germany and China
Item 2
Required information
GDP Price Index Video
What happened to the GDP price index from Year 1 to Year 2 in the video example?
Multiple Choice
- It increased from 96 to 99.
- It increased from 100 to 103. Correct
- It increased from 90 to 99.
- It increased from 90 to 96.
Item 3
Required information
Gross Domestic Product Video
What good was used as an example of an intermediate good in this video?
Multiple Choice
- tires that will be put on a new car Correct
- audio equipment that will be used to produce a music album
- pencils that will be used by an elementary school
- ketchup that will be put on a new hamburger
Item 4
Required information
The Expenditures Approach – Gross Investment Video
According to the video, investment is what percentage of total output in the U.S. economy?
Multiple Choice
- 10%
- 20% Correct
- 30%
- 5%
Item 5
Expenditures Approach – Summary Video
What part of aggregate expenditures was the smallest component of GDP for Marketopia?
Multiple Choice
- I
- NX Correct
- C
Item 6
Required information
Expenditures Approach – Personal Consumption and Government Expenditures Video
According to the video, if a good is tangible and expected to last 2 years before wearing out, how is it classified?
Multiple Choice
- service good
- luxury good
- durable good
- nondurable good
Item 7
Required information
The Income Approach Video
What product was exchanged in this video?
Multiple Choice
- a car
- a bag of apples Correct
- a pair of sunglasses
- a pizza
Item 8
Required information
The Expenditures Approach – Gross versus Net Investment Video
In the video example, how much was net investment in the economy?
Multiple Choice
- 2 tractors
- 3 tractors
- 0 tractors
Item 9
Required information
GDP – An Imperfect Measure Video
Based on what you learned in the video, which of the following transactions is most likely to be included in GDP?
Multiple Choice
- Lucas sells illegal drugs.
- Emma provides landscaping services for Monica in exchange for some fruit from Monica’s tree.
- Toby performs many different tasks as a stay-at-home parent.
- Sandra starts her own bakery and sells bread to neighborhood restaurant
Item 10
Required information
Expenditures Approach – Net Exports Video
What was the value of net exports in Marketopia?
Multiple Choice
- $10 billion
- $4 billion
- $3 billion Correct
- $7 billion
Item 11
Required information
Real GDP Video
In the video example, nominal GDP overstated the growth of output by approximately how much?
Multiple Choice
- 1%
- 4%
- 2%
- 3%