sison 8

.................... is the purchase of new housing by households and landlords

• Business fixed investment

• Residential investment

• Inventory investment

............ is the value of goods and services measured using a constant set of prices

• CPI

• GDP deflator

• Nominal GDP

• Real GDP

.................... happens when real GDP is higher than nominal GDP

• Deflation

• Inflation

Which of the followings is an example of government purchases?

• social security

• highways

• welfare

Which of the following is the correct function to calculate GDP based on expenditure approach?

• Y = G + C + I + EX

• Y = NX + C + I + G

• Y = I + C + G + IM

Which of the followings is an example of nondurable goods?

• mobile phones

• cars

• clothes

• TV

Inflation occurs when nominal GDP is ............... real GDP.

• lower than

• higher than

• as high as

• not as high as

.............. is the market value of all final goods and services produced within an economy in a given period of time.

• GNP

• GDP

• CPI

.............. is the overall level of prices that shows the cost of a fixed basket of consumer goods relative to the cost of the same basket in a base year

• GNP

• GDP

• CPI

.................... is the purchase of new plant and equipment by firms

• Business fixed investment

• Residential investment

• Inventory investment