Chpt 10

(10.1) Macroeconomics is the study of economy wide variables?

• True

• False

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(10.1) GDP can be measured by

• Income only

• Expenditure only

• Both

• Neither

(10.2) You grow your own vegetables and eat them. The market value of the vegetables is 50,000 VND. How much have you added to GDP?

• 50,000VND

• 100,000VND

• 0VND

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(10.2) You buy untreated wood for 200,000 VND and make a table out of it. You sell the table for 1 million VND. How much have you added to GDP

• 200,000VND

• 800,000VND

• 1,000,000VND

• 1,200,000VND

(10.2) Which of the following is an intangible good?

• Apple

• Car

• Haircut

• Medicine

(10.2) You bought a new motorbike in 2019 for 10 mill VND. You sold the bike for 7 mill VND in 2021. What impact is there on GDP?

• 2019: + 10 Mill. 2021: +8 Mill

• 2019: + 10 Mill. 2021: -8 Mill

• 2019: + 10 Mill. 2021: +0 Mill

• 2019: + 10 Mill. 2021: -3 Mill

(10.3) Y = C+I+G+NX

What is NX?

• Imports - Exports

• Exports - Imports

• Exports

• Imports

(10.4) Nominal GDP measures output at

• Current Prices

• A Past Price

• Any Price

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(10.4) Real GDP measures output at

• Current Prices

• A Past Price

• Any Price

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(10.4) What does the GDP deflator show us?

• Change in price level from a base year

• Change in output from a base year

• Change in output and prices