GDP would be a better measure of economic well-being if it included:
A. the costs of education.
B. the market value of final goods.
C. the total value of intermediate goods.
D. the value of leisure.
Answer: D
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To find the cost of the CPI market basket in the current period we have to multiply the
A) quantities in the CPI market basket by the base period prices. B) quantities in the CPI market basket by the current period prices. C) current period quantities in the CPI market basket by the base period prices. D) current period quantities in the CPI market basket by the current period prices. E) quantities in the CPI market basket by the base period prices and then multiply by 100.
Everything else held constant, an increase in net exports ________ aggregate ________
A) increases; demand B) decreases; demand C) decreases; supply D) increases; supply
Which of the following is not a method to reduce the inflationary gap?
a. Increasing government spending b. Reducing transfer payments c. Raising taxes d. Decreasing government expenditure
How much money did migrant workers send home in 2010?
a. $200 billion b. $300 billion c. $400 billion d. $500 billion