Maro-Economics Need Help !

Posted on 2013-11-21 17:30:00 in Economics by QUEEN

1.)In the United States, the largest expenditure component in GDP is

a. gross private domestic investment.

b. government purchases of goods and services.

c. net exports.

d. consumption expenditures.

e. none of the above



I picked D



2.)Which of the following does GDP omit?

a. Jack purchases $2,300 worth of stock in company X.

b. Bob mows his lawn and washes and irons his shirts.

c. Helen receives $4,000 a year in Social Security payments.

d. a and b

e. a, b, and c



I picked E



3.)What does annual economic growth refer to?

a. annual increases in GDP

b. annual increases in consumption spending

c. annual increases in Real GDP

d. annual increases in investment spending

e. none of the above



I picked C



4.)GDP can rise as a result of a rise in __________________, and Real GDP can rise as a result of a rise in _______________________.

a. prices only; prices or output.

b. prices or output; output only.

c. prices or output; prices or output.

d. prices or output; prices only.



Not sure about this one



5.)Assume:

a) 2005 is the base year in which the market basket of products = $800.

b) 2010 is the current year in which the market basket of products = $880

c) GDP in the base year 2005 = $10 Trillion.

d) Nominal GDP in 2010 = $13.2 Trillion.

Based upon the above, what is the real GDP for 2010?

A.9.1 Trillion

B.11 Trillion

C.12 Trillion

D.13 Trillion



Not Sure



6.)Which of the following statements is false?

a. The frictional unemployment rate is greater than the natural unemployment rate.

b. A discouraged worker is counted as an unemployed worker

c. The natural unemployment rate is greater than the structural unemployment rate.

d. The natural unemployment rate is equal to the sum of the frictional unemployment rate and the structural unemployment rate.

e. a and b



I pick E



7.)Which of the following groups does inflation hurt?

A.savers and lenders

B.savers and borrowers

C.borrowers and lenders

D.people on fixed incomes

E.A and D

I pick E





Need help with these if someone could check the answers I have and help with the two I didnt get...Thanks in advance !!!!!

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