Which of the following would not affect this year's GDP?
a. the paint you purchased when painting your house
b. the new car your parents purchased and gave to you as a birthday present
c. a Gateway computer purchased by the U.S. government
d. the value of a used car you purchased, at its sale price
D
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A country has a government sector deficit and a private sector surplus. If the government sector deficit increases, and the private sector surplus decreases, then ________
A) net exports decrease or remain constant B) net exports increase C) net exports increase, decrease, or remain constant D) net exports decrease
The best measure of the standard of living is
A) real GDP per capita. B) real GDP. C) nominal GDP per capita. D) nominal GDP.
Suppose that in 2016, all prices in the economy double and that all wages and salaries also double. In 2016 you
A) are no better off or worse off than you were in 2015 as the purchasing power of your salary has remained the same. B) are better off than you were in 2015 as your salary is higher than it was in 2015 and you can now buy more goods and services. C) are worse off than you were in 2015 as you can no longer afford to buy as many goods and services. D) cannot determine whether you are better off or worse off than you were in 2015, because the purchasing power of your salary cannot be determined.
Let {(yt, zt): t = …, ?2,?1, 0, 1, 2, …} be a bivariate time series process. The model: yt= 
+
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1zt -1+ 2zt -2 + ….. + ut, represents a(n):
A. moving average model.
B. ARIMA model.
C. finite distributed lag model.
D. infinite distributed lag model.