Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Measuring A Nation's Income
Section: Chapter Questions
Problem 6PA
Related questions
Question
![2. True or False? When we measure GDP, it's always better to measure aggregate expenditure
rather than aggregate production.
A. True
B. False
3. What accounts for the difference in real GDP vs. nominal GDP for the same year?
A. Month of the year measurement is taken in
B. Which government agency reports the number
C. What price level is used
D. Whether exports exceed imports that year or vice versa
4. Which U.S. federal agency produces GDP data for the U.S.?
A. BEA
B. CIA
C. FBI
D. FDA
5. Real GDP rose from $3 trillion to $3.1 trillion in one year. What's the GDP growth rate?
A. 0.1%
B. 3.2%
C. 3.3%
D. 10%
6. In our model of production for studying the GDP, what does lower-case y stand for?
A. Productivity parameter
B. Per capita GDP
C. Marginal GDP
D. Per capita capital](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd074ffd1-a21a-4952-bf99-bf8a040ad529%2Fa7d50af9-ddd0-441d-8823-50de3b69448e%2Fug4zwx99_processed.jpeg&w=3840&q=75)
Transcribed Image Text:2. True or False? When we measure GDP, it's always better to measure aggregate expenditure
rather than aggregate production.
A. True
B. False
3. What accounts for the difference in real GDP vs. nominal GDP for the same year?
A. Month of the year measurement is taken in
B. Which government agency reports the number
C. What price level is used
D. Whether exports exceed imports that year or vice versa
4. Which U.S. federal agency produces GDP data for the U.S.?
A. BEA
B. CIA
C. FBI
D. FDA
5. Real GDP rose from $3 trillion to $3.1 trillion in one year. What's the GDP growth rate?
A. 0.1%
B. 3.2%
C. 3.3%
D. 10%
6. In our model of production for studying the GDP, what does lower-case y stand for?
A. Productivity parameter
B. Per capita GDP
C. Marginal GDP
D. Per capita capital
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