Of the following, which is CORRECT?
A)Nominal GDP does not change when the production of goods and services
increases.
B)Nominal GDP is not affected by changes in prices of goods and services.
C)Real GDP changes only when the prices of goods and services really change.
D)Nominal GDP increases when the prices of goods and services increase.
Give this one a try later!
D)Nominal GDP increases when the prices of goods and services increase.
In the table above, what price level belongs in space D?
A)
130
B)
145
C)
,125
D)
140
Give this one a try later!
A)
130
The table below shows Vietnam's price index between 2004 and 2007.
Year - Price Index
2004 - 115.15
2005 - 124.65
2006 - 134
2007 - 145.12
From the data, we can conclude that
A)
commodity substitution bias occurred over the four years.
B)
deflation occurred between 2005 and 2006 as price increased more slowly than in
2004.
C)
food and energy prices in Vietnam were increasing between 2004 and 2007.
D)
the inflation rate 2005 and 2006 was 7.5 percent.
Give this one a try later!
D)
the inflation rate 2005 and 2006 was 7.5 percent.
The percentage of people employed aged 16 years and older divided by the
working-age population is known as the
,A)working-age population ratio.
B)labor force participation rate.
C)employment rate.
D)employment-to-population ratio.
Give this one a try later!
D)employment-to-population ratio.
Reported GDP increases when, in fact, total production is unchanged whenI.there is a
shift from household production to market production.II.a previously illegal activity is
legalized.
A)I only
B)II only
C)neither I nor II
D)both I and II
Give this one a try later!
D)both I and II
If the population is 300 million, with 70 million under the age of 16 and
institutionalized, another
70 million not in the labor force, 10 million unemployed and 150 million employed, the
labor force participation rate is
A)
69.6 percent.
B)
6.67 percent.
C)
23.3 percent.
D)
50 percent.
, Give this one a try later!
A)
69.6 percent.
All economic questions are about
Give this one a try later!
how to cope with scarcity.
The consumer price index (CPI)
A)compares the cost in the current period to the cost in a reference base period of a
basket of goods typically consumed in the base period.
B)compares the cost of the typical basket of goods consumed in period 1 to the cost
of a basket of goods typically consumed in period 2.
C)measures the increase in the prices of the goods included in GDP.
D)is the ratio of the average price of a typical basket of goods to the cost of
producing those goods.
Give this one a try later!
A) compares the cost in the current period to the cost in a reference base
period of a basket of goods typically consumed in the base period.
Which of the following means that the CPI overstates the actual inflation rate?
A)
outlet substitution bias
B)
A)Nominal GDP does not change when the production of goods and services
increases.
B)Nominal GDP is not affected by changes in prices of goods and services.
C)Real GDP changes only when the prices of goods and services really change.
D)Nominal GDP increases when the prices of goods and services increase.
Give this one a try later!
D)Nominal GDP increases when the prices of goods and services increase.
In the table above, what price level belongs in space D?
A)
130
B)
145
C)
,125
D)
140
Give this one a try later!
A)
130
The table below shows Vietnam's price index between 2004 and 2007.
Year - Price Index
2004 - 115.15
2005 - 124.65
2006 - 134
2007 - 145.12
From the data, we can conclude that
A)
commodity substitution bias occurred over the four years.
B)
deflation occurred between 2005 and 2006 as price increased more slowly than in
2004.
C)
food and energy prices in Vietnam were increasing between 2004 and 2007.
D)
the inflation rate 2005 and 2006 was 7.5 percent.
Give this one a try later!
D)
the inflation rate 2005 and 2006 was 7.5 percent.
The percentage of people employed aged 16 years and older divided by the
working-age population is known as the
,A)working-age population ratio.
B)labor force participation rate.
C)employment rate.
D)employment-to-population ratio.
Give this one a try later!
D)employment-to-population ratio.
Reported GDP increases when, in fact, total production is unchanged whenI.there is a
shift from household production to market production.II.a previously illegal activity is
legalized.
A)I only
B)II only
C)neither I nor II
D)both I and II
Give this one a try later!
D)both I and II
If the population is 300 million, with 70 million under the age of 16 and
institutionalized, another
70 million not in the labor force, 10 million unemployed and 150 million employed, the
labor force participation rate is
A)
69.6 percent.
B)
6.67 percent.
C)
23.3 percent.
D)
50 percent.
, Give this one a try later!
A)
69.6 percent.
All economic questions are about
Give this one a try later!
how to cope with scarcity.
The consumer price index (CPI)
A)compares the cost in the current period to the cost in a reference base period of a
basket of goods typically consumed in the base period.
B)compares the cost of the typical basket of goods consumed in period 1 to the cost
of a basket of goods typically consumed in period 2.
C)measures the increase in the prices of the goods included in GDP.
D)is the ratio of the average price of a typical basket of goods to the cost of
producing those goods.
Give this one a try later!
A) compares the cost in the current period to the cost in a reference base
period of a basket of goods typically consumed in the base period.
Which of the following means that the CPI overstates the actual inflation rate?
A)
outlet substitution bias
B)
