Question :
111.If the Real GDP increases from one year to the : 1379060
111.If the Real GDP increases from one year to the next, we could conclude the country experienced:
A. inflation and no change in output.
B. an increase in output and no change in prices.
C. a definite increase in output and may have experienced an increase in prices.
D. definite inflation and may have experienced an increase in output.
112.Is it possible for a country’s nominal GDP to increase and real GDP to decrease from one year to the next?
A. Yes, it would indicate a larger rise in prices relative to a decrease in output.
B. No, since prices are held constant and that would be mathematically impossible.
C. Yes, it would indicate a larger rise in output relative to a decrease in prices.
D. No, since output is held constant and that would be mathematically impossible.
113.The GDP deflator is a measure of:
A. the overall change in prices in an economy, using the ratio between real and nominal GDP.
B. the overall change in output in an economy, based on goods and services valued at constant prices.
C. the overall change in prices in an economy, based on price-changes determined when output is held constant.
D. the overall change in output in an economy, using the ration between real and nominal GDP.
114.The GDP deflator is:
A. a measure of the overall change in prices in an economy, using the ratio between real and nominal GDP.
B. one way of summarizing how prices have changed across the entire economy.
C. a weighted average of all of the individual price changes in the economy.
D. All of these statements are correct.
115.A GDP deflator of 112 means:
A. the overall price level is 12 percent higher than in the base year.
B. the overall output increased by 12 percent since the base year.
C. every price in the economy has gone up by 12 percent.
D. the production of each good in the economy has increased by 12 percent.
116.Is it possible to have a GDP deflator of less than 100?
A. Yes, it would indicate a year when prices were lower than in the base year.
B. Yes, it would indicate a year when output was lower than in the base year.
C. No, that is mathematically impossible.
D. Yes, it would indicate a year when prices were lower than in the previous year.
117.In official government statistics, the GDP deflator is actually calculated using:
A. a method called a chain-weighted index.
B. the ratio of nominal GDP to real GDP from the year before it.
C. a simpler approach, so the results are easily comparable.
D. All of these statements are true.
118.GDP per capita:
A. paints a clearer picture of how thin the output is spread across a population.
B. tells us how much is produced per person in an economy.
C. is calculated by dividing GDP by the population size of the economy.
D. All of these statements are true.
119.GDP per capita:
A. is an average income per person in an economy.
B. tells us about how the output is allocated in an economy.
C. tells us about what you can buy with a given amount of money in that country.
D. All of these statements are true.
120.If the GDP of Macroland is $250,000,000 and they have a population of 5,000 people, then the GDP per capita is:
A. quite high.
B. $5,000.
C. $1,250,000.
D. $50,000.
