National income accounting can best be characterized as: Group of answer choices a microeconomic model of the economy used by the Federal Reserve bank. a method for comparing different political systems. a standardized economic report authored by politicians. a statistical measure of the income received by consumers as opposed to businesses. a set of rules used to summarize economic activity over a given period of time.

National income accounting can best be characterized as: Group of answer choices a microeconomic model of the economy used by the Federal Reserve bank. a method for comparing different political systems. a standardized economic report authored by politicians. a statistical measure of the income received by consumers as opposed to businesses. a set of rules used to summarize economic activity over a given period of time.

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter15: Gross Domestic Product

Section: Chapter Questions

Problem 1SQ

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Using the following data provide estimate of the following key national accounting aggregates: a. Gross value added b. Gross national income
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Using the data, provide estimates of the following key National Accounting Aggregates: a) Gross Value Addedb) Gross National Incomec) Disposable Incomed) Gross Savings
The measurement of GDP calculates the value of intermediate goods which is already included in the prices of the partial goods. Select one: a. True b. False
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Q21 MCQ A price index is: a) a measurement showing how the average price of a bundle of goods changes over time b) a measurement showing the cost of a bundle of goods at a point in time c) a sustained increase in the overall price level d) a decrease in the overall price level
Exports of goods and services 1,872 Imports of goods and services 2,375 Net unilateral transfers -99 Net Investment Income 170 Capital Account -7 Net US acquisition of financial assets 958 Net US incurrence of liabilities 1,391 Net financial derivatives -14 Based on table above, the statistical discrepancy is Group of answer choices 15 8 0. -8 -15
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Aggregate U.S. health care spending in 2017 was approximately Group of answer choices 5.2 percent of domestic output (GDP). 13.1 percent of domestic output (GDP). 17.9 percent of domestic output (GDP). 21 percent of domestic output (GDP). The unemployed are disproportionately represented among the uninsured because Group of answer choices one must be working to qualify for Medicaid. most workers obtain health insurance through their employers. most are young and in excellent health, so they choose not to purchase health insurance. a large percentage of the unemployed are heads of single-parent families.
You are employed by the state bureau of economic development. There is a demand for a leading economic index to review past economic activity and to forecast future economic trends in the state. You decide that several key factors should be included in the index: number of new businesses started during the year, number of business failures, state income tax receipts, college enrollment, and the state sales tax receipts. Here are the data for 2000 and 2018. 2000 2018 New businesses 1,240 1,325 Business failures 600 496 State income tax receipts ($ millions) 185.2 220.8 College student enrollment 242,299 291,291 State sales tax ($ millions) 55.1 57.4 The weights you assign are: new businesses 15%, business failures 10%, income tax 42%, enrollment 13% and sales tax 20%. b. Compute the leading economic indicator for 2018. (Round your answer to 2 decimal places.) c. Interpret the indexes. (Round your answer to 2 decimal places.) Economic activity has (increased or decreased) _____%…
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