曼昆宏观经济学英语课后题答案

1、曼昆宏观经济学英语课后题答案CHAPTER 23: MEASURING A NATION' S INCOMETrue/FalseIndicate whether the statement is true or false.1. The circular flow diagram describes all transactions between households and firms in a simpleeconomy and shows the equality of expenditures and income.T ANSWER: POINTS:0 / 12. Gross

2、 domestic product includes most items produced and sold illicitly.F ANSWER: POINTS:0 / 13. Net national product is the total income of a nation, s residents minus losses from depreciation.T ANSWER: POINTS:0 / 14. Disposable personal income is the income that households and unincorporated business ha

3、ve leftafter satisfying all their obligations to the government. It equals personal income minus personal taxes and certain non-tax payments to government.T ANSWER: POINTS:0 / 15. The purchase of new houses by households is included in the calculation of personal consumptionexpenditures of GDP.F ANS

4、WER: POINTS:0 / 1Multiple ChoiceIdentify 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 inco

5、me may rise or fall.A ANSWER: POINTS:0 / 12. Income equals expenditure becausea. 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 corre

6、ct.B ANSWER: POINTS:0 / 13. If a province makes the production and sale of illicit drugs legal, then GDPa. must increase, b. must decrease, c. wouldn，t change, d. may increase or decrease.A ANSWER: POINTS:4. When a government provides subsidies to encourage growth of small businesses, the subsidiesw

7、oulda. 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.C ANSWER: POINTS:5. Diesel fu

8、el isa. always considered a final good.b. counted as an intermediate good if a company uses it to provide transportation services, c. counted as a final good if a farmer uses it to run a tractor to grow crops, d. Both b and c are correct.B ANSWER:POINTS:6. Gross domestic producta. is the market valu

9、e of all final goods and services produced within a country in a givenperiod (usually a year)b. is the income in the hands of individuals after deducting income taxes; income available tohouseholds to spend and savec. is the value of goods and services purchased by all levels of government- federal,

10、provincial, and local -in a given periodd. is the market value of all final goods and services produced by permanent residents of anation in a given time periodA ANSWER: POINTS:7. Macroeconomics is that branch of economics that studiesa. the conditions of individual marketsb. the influence of govern

11、ments on individual markets c. economy-wide phenomena d. only the private sector of the economyC ANSWER: POINTS:0 / 18. Suppose that nominal GDP is $6,000 billion and real GDP is $3,000. What is the GDP pricedeflator? a. 125 b. 150 c. 200 d. 250C ANSWER: POINTS:0 / 19. The purchase of final goods an

12、d services by households is calleda. investmentb. public sector expenditure c. consumption d. net exportsC ANSWER: POINTS:0 / 110. Investment is the purchase of capital equipment, inventories, anda. structures b. non-durable goods c. depreciation d. import investmentA ANSWER: POINTS:0 / 111. Transfe

13、r paymentsa. are included in GDP because they are forms of incomeb. are included in GDP because goods and services have been produced in the transfer c. are NOT included in the GDP because goods and services have not been produced in thetransferd. are included in GDP because they represent the produ

14、ction of transfers of goods andservices to foreign countriesC ANSWER: POINTS:0 / 112. Which of the following would be considered consumption expenditure?a. The Smiths buy a home built in 1990.b. The federal government pays the salary of a captain in the Armed Forces, c. The Hostlers buy a new car th

15、at was manufactured in Germany, d. The government buys food for its armed forces.C ANSWER: POINTS:0 / 113. The method that measures GDP in relationship to the size of the population is calleda. GNP b. worker GDP c. GDP per person d. capital GDPC ANSWER: POINTS:14. The components of GDP area. C + I +

16、 G b. NX + G + C c. C + G + NX d. C + I + G + NXD ANSWER: POINTS:0 / 115. Suppose nominal GDP is $7700 and the GDP deflator is 110. Real GDP isa. S7700 b. 57000c. 5847,000 d. $8470B ANSWER: POINTS:0 / 1Short Answer1. What are the components of gross domestic product (GDP)?RESPONSE:ANSWER: The compon

17、ents of GDP are： (1) consumption spending by households on goodsand services, with the exception of purchases of new housing; (2) Investment spending on capital equipment, inventories, and structures, including household purchases of new housing; (3) government purchases or spending on goods and ser

18、vices by the local, provincial, and federal levels governments; and (4) net exports which is spending on domestically produced goods and services by foreigners (exports) minus spending on foreign goods and services by domestic resident (imports).POINTS:/ 12. Differentiate between gross domestic product (GDP) and gross national product (GNP).RESPONSE:ANSWER: GDP is the value of all final goods and services produced within a country in a givenyear; while GNP is the total income earned by a nation' s permanent residents or nationals (that is, Canadians). GNP differs from GDP by in