曼昆宏观经济学英语课后题答案

曼昆宏观经济学英语课

后题答案

公司标准化编码 [QQX96QT-XQQB89Q8-NQQJ6Q8-MQM9N]

CHAPTER 23: MEASURING A NATION’S INCOME

True/False

Indicate whether the statement is true or false.

1.

The circular flow diagram describes all transactions between

households and firms in a simple economy and shows the equality of expenditures and income.

ANSWER:

T

POINTS:

0 / 1

2.

Gross domestic product includes most items produced and sold

illicitly.

ANSWER:

F

POINTS:

0 / 1

3.

Net national product is the total income of a nation’s

residents minus losses from depreciation.

ANSWER:

T

POINTS:

0 / 1

4.

Disposable personal income is the income that households and

unincorporated business have left after satisfying all their

obligations to the government. It equals personal income minus personal taxes and certain non-tax payments to government.

ANSWER:

T

POINTS:

0 / 1

5.

The purchase of new houses by households is included in the

calculation of personal consumption expenditures of GDP.

ANSWER:

F

POINTS:

0 / 1

Multiple Choice

Identify the choice that best completes the statement or answers the

question.

1.

When GDP falls,

a.income and expenditure must both fall.

b.income and expenditure can both rise.

c.income must fall, but expenditure may rise or fall.

d.expenditure must fall, but income may rise or fall.

ANSWER:

A

POINTS:

0 / 1

2.

Income equals expenditure because

a.firms always pay out all their revenue as income to

someone.

b.each time a sale is made, there is a buyer and a seller.

c.households own the factors of production used to generate

incomes.

d.All of the above are correct.

ANSWER:

B

POINTS:

0 / 1

3.

If a province makes the production and sale of illicit drugs legal, then GDP

a.must increase.

b.must decrease.

c.wouldn't change.

d.may increase or decreas

e.

ANSWER:

A

POINTS:

0 / 1

4.

When a government provides subsidies to encourage growth of

small businesses, the subsidies would

a.be included in GDP because they are invested by

businesses.

b.be included in GDP because they are a form of government

spending.

c.not be included in GDP because they are transfer payments.

d.may or may not be included in GDP, depending on how the

funds are used.

ANSWER:

C

POINTS:

0 / 1

5.

Diesel fuel is

a.always considered a final good.

b.counted as an intermediate good if a company uses it to

provide transportation services.