List the components of the expenditure approach to measuring GDP
What will be an ideal response?
The expenditure approach measures GDP by adding final expenditures, so the components are personal consumption expenditure, gross private investment, government expenditures on goods and services, and net exports.
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Use the following table to answer the next question. All figures below are in billions of dollars.Domestic Output or Income (RGDP = DI)Consumption$240$244250250260256270262280268290274300280310286320292If gross investment is $12 billion, the equilibrium level of real GDP will be
A. $270 billion. B. $280 billion. C. $260 billion. D. $290 billion.
A black market develops only when quantity demanded exceeds quantity supplied
a. True b. False Indicate whether the statement is true or false
If the interest rate is 5 percent, the present value of $200 received at the end of five years is:
A. $132.62. B. $176.41. C. $121.34. D. $156.71.
Which set of items in the list would shift an economy's production possibilities curve outward?
Use the list below to answer the following question: 1. Improvements in technology. 2. Increases in the supply (stock) of capital goods. 3. Purchases of expanding output. 4. Obtaining the optimal combination of goods, each at least-cost production. 5. Increases in the quantity and quality of natural resources. 6. Increases in the quantity and quality of human resources. A. 2, 5, and 6 only. B. 2, 4, 5, and 6 only. C. 1, 2, 5, and 6 only. D. 1, 3, and 4 only.