Which of the following is not a category of consumption spending in the national income accounts?
A. Housing purchases
B. Nondurable goods
C. Consumer durables
D. Services
Answer: A
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According to the assumptions of the quantity theory of money, if the money supply decreases by 7 percent, then
a. nominal and real GDP would fall by 7 percent. b. nominal GDP would fall by 7 percent; real GDP would be unchanged. c. nominal GDP would be unchanged; real GDP would fall by 7 percent. d. neither nominal GDP nor real GDP would change.
In the open-economy macroeconomic model, the key determinant of net capital outflow is
a. the real exchange rate. When the real exchange rate rises, net capital outflow rises. b. the real exchange rate. When the real exchange rate rises, net capital outflow falls. c. the real interest rate. When the real interest rate rises, net capital outflow rises. d. the real interest rate. When the real interest rate rises, net capital outflow falls.
All of the following are macro failures that justify government intervention except for:
A.) High unemployment. B.) A rising price level. C.) A decline in the production capacity. D.) Inequitable distribution of output.
Per capita GDP is the most practical way to:
A. Measure how much income households receive. B. Measure how much output can be consumed on a sustainable basis. C. Measure how much output is potentially available to the average person. D. Analyze the growth rate of the economy over time.