GDP, CPI

What can be used to measure standard of living?

• GDP

• GNP

• CPI

• PPI

• GDP per capita

Which is a final product in a bakery?

• Cake
• Flour
• Eggs
• Sugar

An airline buying a plane belong in which part of the GDP formula?
GDP = C+I+G+(X-M)

• Consumption Expenditures
• Investment Expenditures
• Government Expenditures
• Net Imports

Tanks and roads belong in which part of the GDP formula?
GDP = C+I+G+(X-M)

• Consumption Expenditures
• Investment Expenditures
• Government Expenditures
• Net Imports

Each individual on food stamps in Delaware can receive up to $194 a month. Is this included in government spending?

• Yes - Government spending

• Yes - Consumer Spending

• No - Intermediate Goods

• No - Transfer payment

• None of the above

Which of the following is the best measurement of a country's living standard?

• Nominal GDP

• Real GDP

• GDP per capita

• Real GDP per capita

What is the total value of all final goods and services produced in the economy calculated using the prices of a selected base year?

• Nominal GDP

• Real GDP per capita

• Real GDP

• GDP per capita

A major difference between the CPI and the GDP price deflator is that the CPI includes:

• All domestically produced goods and the deflator includes only a sample of domestically produced goods.

• All domestically produced goods and the deflator includes a sample of goods consumed, including imported goods.

• Only some domestically produced goods and the deflator includes all domestically produced goods.

• A sample of goods consumed, including imported goods, and the deflator includes all domestically produced goods.

• A sample of all goods consumed that are produced domestically, and the deflator includes all goods produced.

Which area is NOT part of GDP:

• Consumer sector

• Business Sector

• Government Sector

• Private Sector

A Japanese car company makes a new sedan in Kentucky. Which country's GDP is this added to?

• U.S.

• Japan

• U.S. and Japan

• China

• no answer