Stay schemin
Intermediate products but not final products.
Manufactured goods but not services.
Final products but not intermediate products.
Only good purchased by consumers in a given year.
Exports plus imports.
Exports minus imports.
Imports minus exports.
exports plus imports minus tariffs
$-4.4 billion.
$4.4 billion.
$1.4 billion.
$-1.4 billion.
None of the above.
Government purchases of investment goods
Transfer payments.
Government spending on services.
All of the above are included in government purchases
Both a) and c) are included in government purchases, but b) is not.
Track changes in the level of wholesale prices in the economy
Monitor changes in the level of real GDP.
C) monitor changes in the cost of living of typical households.
track changes in the stock market.
The rate of inflation from year 1 to year 2 equals +106 percent
The rate of inflation from year 1 to year 2 equals +6 percent.
The rate of inflation from year 1 to year 2 equals -6 percent.
National income has increased by 6 percent from year 1 to year 2.
National income has decreased by 6 percent from year 1 to year 2.
Growth.
Stagnation.
Stagflation.
Inflation.
Deflation.
Growth.
Stagnation.
Stagflation. (Low Economic growth- High Inflation rate)
Inflation.
Deflation
600.
160.
150.
133.
66.7
80, and this indicates that the price level has decreased by 20 percent since the base year
80, and this indicates that the price level has increased by 80 percent since the base year.
125, and this indicates that the price level has increased by 25 percent since the base year.
125, and this indicates that the price level has increased by 125 percent since the base year.
Nominal GDP was greater than real GDP, and the GDP deflator was greater than 100.
Nominal GDP was equal to real GDP, and the GDP deflator was equal to 1.
Nominal GDP was less than real GDP, and the GDP deflator was less than 100
Nominal GDP was equal to real GDP, and the GDP deflator was equal to 100.
Real GDP was $660, and the GDP deflator was 113.4
Real GDP was $670, and the GDP deflator was 115.2
Real GDP was $660, and the GDP deflator was 115.2.
Real GDP was $670, and the GDP deflator was 113.4.
Real GDP was $780, and the GDP deflator was 141.0.
Real GDP was $825, and the GDP deflator was 133.3.
Real GDP was $780, and the GDP deflator was 133.3
Real GDP was $825, and the GDP deflator was 141.0
Real GDP was $900, and the GDP deflator was 150.2.
Real GDP was $900, and the GDP deflator was 177.8
Real GDP was $1065, and the GDP deflator was 177.8
Real GDP was $1065, and the GDP deflator was 150.2.
29.9% from 2008 to 2009.
33.3% from 2009 to 2010.
24.3% from 2009 to 2010.
15.4% from 2010 to 2011.
16.4%.
24.3%.
41.0%
44.7%
15.4%.
26.1%
45.5%.
77.8%
Has to spend more dollars to maintain the same standard of living.
Can spend fewer dollars to maintain the same standard of living.
Finds that its standard of living is not affected.
Can offset the effects of rising prices by saving more.
The CPI is easier to measure.
The CPI is calculated more often than the GDP deflator is.
The CPI better reflects the goods and services bought by consumers.
The GDP deflator cannot be used to gauge inflation.
91.6.
104.6
109.2.
114.5.
9.0 percent
114.6 percent
18.2 percent
40.0 percent
6.1 percent.
6.5 percent.
9.1 percent
49.1 percent.
2.8 percent for Canada and 9.1 percent for Mexico
2.8 percent for Canada and 9.8 percent for Mexico
3.3 percent for Canada and 9.1 percent for Mexico
3.3 percent for Canada and 9.8 percent for Mexico
104.
104.96.
152.96.
159.91.
$108.
$147.
$160.
$224