Posted: January 2nd, 2017
Question 16 1 / 1 point On the demand side of GDP, consumption by _____________ is the largest component of GDP, accounting for about two-thirds of the GDP in any year. a) government b) households c) services d) businesses Question 17 1 / 1 point On the supply side of the GDP, Structures account for around __________ of U.S. GDP. a) 37% b) 7% c) 17% d) 57% Question 18 1 / 1 point Consumption in the United States is about ____________ of GDP, and it moves relatively little over time. a) 10% b) 90% c) 33% d) 68% Question 19 0 / 1 point The demand measure of GDP accounting adds together: a) wages and salaries, rent, interest, and profit. b) consumption, investment, government purchases, and trade balance. c) consumption, interest, government purchases, and trade balance. d) consumption, government purchases, wages and salaries, and trade balance. Question 20 1 / 1 point Consumption is the purchase of goods and services by: a) government. b) foreign buyers. c) households. d) business firms. Question 21 1 / 1 point Which of the following are most likely classified by economists as consumer durable goods? a) automobiles, furniture b) stocks, bonds c) drugs, toys, magazines, books d) food, clothing Question 22 1 / 1 point To compare the GDP of two different countries with different currencies, it is necessary to use _________________________. a) currency rates b) foreign currency c) an exchange rate d) per capita GDP Question 23 1 / 1 point _________ are now the largest single component of the supply side of GDP, representing over half of GDP. a) Nondurable goods b) Structures c) Services d) Durable goods Chapter 6 Problems Question 24 1 / 1 point In 1980 Denmark had a GDP of $70 billion (measured in U.S. dollars) and a population of 5.1 million. In 2000, Denmark had a GDP of $160 billion (measured in U.S. dollars) s and a population of 5.3 million. By what percentage did Denmark’s GDP per capita rise between 1980 and 2000? a) 45.4% b) 120% c) 219% d) 128% Question 25 0 / 1 point In 1990, the GDP of Canada was $680 billion as measured in Canadian dollars, and the exchange rate was that $1 Canadian was worth 85 U.S. cents. In 2000, the GDP of Canada was $1000 billion as measured in Canadian dollars, and the exchange rate was that $1 Canadian was worth 69 U.S. cents. By what percentage did the GDP of Canada increase from 1990 to 2000 in Canadian dollars? a) 19.4% b) 47% c) 68% d) 147%
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