Measuring output videos – Real GDP Per Capita Video – MACRO Mini – 2019 Spring
The key terms in Real GDP Per Capita Video – MACRO Mini – 2019 Spring include Marketopia
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
- Germany and China
- Italy and India
- Canada and Mexico
Measuring output videos
Item 2
Required information
Gross Domestic Product Video
What good was used as an example of an intermediate good in this video?
Multiple Choice
- audio equipment that will be used to produce a music album
- tires that will be put on a new car Correct
- pencils that will be used by an elementary school
- ketchup that will be put on a new hamburger
Item 3
Use the following table to answer the next question.
| Year | Real GDP | Population |
| 2008 | $20,000 | 200 |
| 2009 | 40,000 | 400 |
| 2010 | 60,000 | 400 |
| 2011 | 70,000 | 500 |
Real GDP per capita __________ between 2009 and 2010.
Multiple Choice
- remains constant
- increases Correct
- decreases
- cannot be calculated
Item 4
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
- Germany and China
- Italy and India
- Canada and Mexico
Measuring output videos
Item 5
In November 2009, Marketopia Motors produced an automobile that was delivered to a local dealership in December 2009. The auto was then sold to Sharon Smith for personal use in February of 2010. Following national income accounting practices, this auto would be counted as part of _____.
Multiple Choice
- negative investment in 2009 and consumption in 2010
- investment in 2009 and negative investment in 2010 Correct
- consumption in 2009 and consumption in 2010
- consumption in 2009 and investment in 2010
Item 6
Required information
The Expenditures Approach – Gross versus Net Investment Video
In the video example, how much was net investment in the economy?
Multiple Choice
- 3 tractors
- 2 tractors
- 0 tractors
- 1 tractor
Item 7
Required information
Expenditures Approach – Summary Video
What part of aggregate expenditures was the smallest component of GDP for Marketopia?
Multiple Choice
- G
- NX Correct
- C
- I
Measuring output videos
Item 8
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 100 to 103. Correct
- It increased from 90 to 96.
- It increased from 96 to 99.
- It increased from 90 to 99.
Item 9
Required information
GDP – An Imperfect Measure Video
Based on what you learned in the video, which of the following transactionsis most likely to be included in GDP?
Multiple Choice
- Sandra starts her own bakery and sells bread to neighborhood restaurant
- 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.
- Lucas sells illegal drugs.
Measuring output videos
Item 10
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
- nondurable good Correct
- durable good
- service good
- luxury good
Item 11
Required information
Real GDP Video
In the video example, nominal GDP overstated the growth of output by approximately how much?
Multiple Choice
- 2%
- 1%
- 4%
- 3% Correct
Item 12
Required information
Expenditures Approach – Net Exports Video
What was the value of net exports in Marketopia?
Multiple Choice
- $3 billion Correct
- $4 billion
- $7 billion
- $10 billion
Item 13
Required information
The Income Approach Video
What product was exchanged in this video?
Multiple Choice
- a pair of sunglasses
- a car
- a bag of apples Correct
- a pizza
Item 14
The Expenditures Approach – Gross Investment Video
According to the video, investment is what percentage of total output in the U.S. economy?
Multiple Choice
- 20% Correct
- 5%
- 10%