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    [PDF] 7. Refer to Table The market value of all final goods and services produced within Bahkan in 2010 is a. $95. b. $100. c. $110. d. $120.

    1 Chapter For an economy as a whole, income must equal expenditure because a. the number of firms is equal to the number...

    Home 7. Refer to Table The market value of all final goods and services produced within Bahkan in 2010 is a. $95. b. $100. c. $110. d. $120.

    7. Refer to Table The market value of all final goods and services produced within Bahkan in 2010 is a. $95. b. $100. c. $110. d. $120.

    March 29, 2017 | Author: Gervais Blair | Category: N/A

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    1 Chapter For an economy as a whole, income must equal expenditure because a. the number of firms is equal to the number...

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    Chapter 10 1. For an economy as a whole, income must equal expenditure because a. the number of firms is equal to the number of households in an economy. b. individuals can only spend what they earn each period. c. every dollar of spending by some buyer is a dollar of income for some seller. d. every dollar of saving by some consumer is a dollar of spending by some other consumer. 2. If a state made a previously-illegal activity, such as gambling or prostitution, legal, then, other things equal, GDP a. decreases. b. increases. c. doesn't change because both legal and illegal production are included in GDP. d. doesn't change because these activities are never included in GDP.

    3. Tyler and Camille both live in Oklahoma. A new-car dealer in Oklahoma bought a new car from the manufacturer for $18,000 and sold it to Tyler for $22,000. Later that year, Tyler sold the car to Camille for $17,000. By how much did these transactions contribute to U.S. GDP for the year? a. $18,000 b. $22,000 c. $39,000 d. $57,000

    4. Michigan Tea Company sold $15 million worth of tea it produced. In producing this tea it purchased $5 million dollars worth of ingredients from foreign countries and paid workers who reside in Canada but commute to the U.S. $1 million. How much did these transactions add to U.S. GDP? a. $21 million b. $15 million c. $10 million d. $9 million

    5. Which of the following examples of production of goods and services would be included in U.S. GDP? a. Samantha, a Canadian citizen, grows sweet corn in Minnesota and sells it to a grocery store in Canada. b. Ian, an American citizen, grows peaches for his family in the back yard of their Atlanta home. c. Leo, an American citizen, grows marijuana in his Seattle home and sells it to his friends and neighbors. d. None of the above examples of production would be included in U.S. GDP.

    6. U.S. GDP a.

    includes production of foreigners working in the U.S. and production by U.S. residents working in foreign countries. b. includes production of foreigners working in the U.S. but excludes production by U.S. residents working in foreign countries. c. excludes production of foreigners working in the U.S. but includes production by U.S. residents working in foreign countries. d. excludes production of foreigners working in the U.S. and production by U.S. residents working in foreign countries. Table 10-1 The table below contains data for Bahkan for the year 2010. GDP Income earned by citizens abroad Income foreigners earn here Losses from depreciation Indirect business taxes Statistical discrepancy Retained earnings Corporate income taxes Social insurance contributions Interest paid to households by government Transfer payments to households from government Personal taxes Nontax payments to government

    $110 $5 $15 $4 $6 $0 $5 $6 $10 $5 $15 $30 $5

    7. Refer to Table 10-1. The market value of all final goods and services produced within Bahkan in 2010 is a. $95. b. $100. c. $110. d. $120.

    8.John buys a used car for $5,400 and spends $600 on new parts, made in the U.S., to fix the car. The end result of these two transactions is a. U.S. consumption purchases increase by $5,400 and U.S. GDP increases by $5,400. b. U.S. consumption purchases increase by $6,000 and U.S. GDP increases by $6,000. c. U.S. consumption purchases increase by $600 and U.S. GDP increases by $600. d. U.S. consumption purchases increase by $600 and U.S. GDP increases by $6,000.

    9. Consider two items that might be included in GDP: (1) the estimated rental value of owneroccupied housing and (2) purchases of newly-constructed homes. How are these two items accounted for when GDP is calculated? a. Both item (1) and item (2) are included in the consumption component of GDP. b. Item (1) is included in the consumption component of GDP, while item (2) is included in the investment component of GDP. c. Item (1) is included in the investment component of GDP, while item (2) is included in the consumption component of GDP. d. Only item (2) is included in GDP, and it is included in the investment component.

    10. During the current quarter, a firm produces consumer goods and adds some of those goods to its inventory rather than selling them. The value of the goods added to inventory is a. not included in the current quarter GDP. b. included in the current quarter GDP as investment. c. included in the current quarter GDP as consumption. d. included in the current quarter GDP as a statistical discrepancy.

    11. An American retailer purchased 100 pairs of shoes from a company in Denmark in the second quarter of 2010 but does not sell them to a consumer until the third quarter of 2010. Which of the following components of U.S. GDP is affected by this transaction in the third quarter of 2010? a. consumption, investment and imports b. only consumption and investment c. only consumption and imports d. only investment and imports The table below contains data for the country of Crete for the year 2010. Total income Household purchases of durable goods Household purchases of nondurable goods Household purchases of non-education services Household purchases of education services Household purchases of new housing Purchases of capital equipment Inventory changes Purchases of new structures Depreciation Local government spending on goods and services State government spending on goods and services Federal government spending on goods and services Transfer payments Foreign purchases of domestically produced goods Domestic purchases of foreign goods

    Source : silo.tips

    Macroeconomics Ch. 12 Quiz Flashcards & Practice Test

    Start studying Macroeconomics Ch. 12 Quiz. Learn vocabulary, terms, and more with flashcards, games, and other study tools.

    Macroeconomics Ch. 12 Quiz

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    Suppose Japanese-based Toshiba Corporation builds and operates a new computer factory in the United States. Future production from such an investment will

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    increase U.S. GDP more than it increases U.S. GNP.

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    Which of the following is a correct way to measure productivity?

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    Divide the quantity of output by the number of hours worked.

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    Terms in this set (15)

    Suppose Japanese-based Toshiba Corporation builds and operates a new computer factory in the United States. Future production from such an investment will

    increase U.S. GDP more than it increases U.S. GNP.

    Which of the following is a correct way to measure productivity?

    Divide the quantity of output by the number of hours worked.

    Suppose a country increases trade restrictions. This country would be pursuing an

    inward policy, which most economists believe has adverse effects on the economy.

    Proprietary technology is technology that is

    not widely used because it is known or controlled only by the company that discovered it.

    The Karmic Deed Restaurant uses all of the following to produce vegetarian meals. Which of them is an example of physical capital?

    the tables and chairs in the restaurant

    In 2009, the imaginary nation of Mainland had a population of 7,000 and real GDP of 210,000. In 2010 the population was 7,300 and real GDP of 223,380. Over the year in question, real GDP per person in Mainland grew by

    2 percent, which is about the same as average U.S. growth over the last one-hundred years.

    A barber shop produces 192 haircuts a day. Each barber in the shop works 8 hours per day and produces the same number of haircuts per hour. If the shop's productivity is 2 haircuts per hour of labor, then how many barbers does the shop employ?

    12

    Scenario 25-1. An economy's production form takes the form Y = AF(L, K, H, N).

    Refer to Scenario 25-1. If the production function has the constant-returns-to-scale property, then if we know the values of A, K/L, H/L, and N/L, we also know the value of

    Labor productivity

    Consider three imaginary countries. In Aire, saving amounts to $4,000 and consumption amounts to $12,000; in Bovina, saving amounts to $3,000 and consumption amounts to $24,000; and in Cartar, saving amounts to $10,000 and consumption amounts to $50,000. The saving rate is

    higher in Aire than in Cartar, and it is higher in Cartar than in Bovina.

    According to some estimates, over the last two decades China has had an annual average growth rate of about 12 percent.

    True.

    Which of the following is not correct?

    With a growth rate of about 2 percent per year, average income per person doubles about every 60 years.

    Which of the following countries had the highest level of real GDP per person in 2014?

    Germany.

    Over the last 140 years or so, on average Canada's real GDP per-person grew faster than that of the U.K.

    True.

    Figure 25-1. On the horizontal axis, K/L represents capital (K) per worker (L). On the vertical axis, Y/L represents output (Y) per worker (L).

    Refer to Figure 25-1. The curve becomes flatter as the amount of capital per worker increases because of

    diminishing returns to capital.

    Last year a country had 800 workers who worked an average of 8 hours and produced 12,800 units. This year the same country had 1000 workers who worked an average of 8 hours and produced 14,000 units. This country's productivity was

    lower this year than last year. A possible source of this change in productivity is a change in the size of the capital stock.

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    CEPAL Review

    Executive Secretary o f ECLAC

    Gert Rosenthal

    Deputy Executive Secretary

    Carlos Massa d

    Director o f the Review

    Aníbal Pinto Technical Secretary Eugenio Lahera UNITED NATIONS

    ECONOMIC COMMISSION FOR LATIN AMERICA AND THE CARIBBEAN

    SANTIAGO, CHILE, DECEMBER 1992

    CEPAL Review is prepared by the Secretariat of the Economic Commission for Latin America and the

    Caribbean. The views expressed in the signed articles, including the contributions of Secretariat staff members,

    however, represent the personal opinion of the authors and do not necessarily reflect the views of the

    Organization. The designations employed and the presentation of material in this publication do not imply the

    expression of any opinion whatsoever on the part of the Secretariat concerning the legal status of any country,

    territory, city or area or its authorities, or concerning the delimitation of its frontiers or boundaries,

    Notes nnd explanation of symbols

    The following symbols are used in tables in the/hmenv

    Three dots (...) indicate that data are not available or are not separately reported.

    A dash (—) indicates that the amount is nil or negligible.

    A blank space in a table means that the item in question is not applicable.

    A minus sign (-) indicates a deficit or decrease, unless otherwise specified.

    A point (.) is used to indicate decimals.

    A slash (/) indicates a crop year or fiscal year, e.g., 1970/1971.

    Use of a hyphen (-) between years, e.g., 1971-1973, indicates reference to the complete number of calendar

    years involved, including the beginning and end years.

    References to “tons” mean metric tons, and to “dollars”, United States dollars, unless otherwise stated.

    Unless otherwise stated, references to annual rates of growth or variation signify compound annual rates.

    Individual figures and percentages in tables do not necessarily add up to the corresponding totals, because of

    rounding. LC/G.1748-P December 1992

    UNITED NATIONS PUBLICATION

    ISSN 0251-2920 ISBN 92-1-121185-9

    Applications for the right to reproduce this work or parts thereof are welcomed and should be sent to the

    Secretary of the Publications Board, United Nations Headquarters, New York, N.Y. 10017, U.S.A. Member

    States and their governmental institutions may reproduce this work without application, but are requested to

    mention the source and inform the United Nations of such reproduction.

    Copyright © United Nations 1992

    All rights reserved Printed in Chile T CEPAL Review Santiago, Chile December 1992 Number 48 CO N TEN TS

    In search of another form of development. Pedro Sáinz and Alfredo Calcagno.

    1

    A new international industrial order. M ichael Mortimore.

    39

    European investment in Latin America: an overview. Juan Alberto Fuentes .

    61

    An appraisal of recent intra-industry trade for Latin America. Renato Baumann.

    83

    Industrial policy in Central America. Larry Wilimore,

    95

    Participation and the environment. Tonci Tomic.

    107

    Self-financing water supply and sanitation services. Terence Lee and Andrei Jouravlev.

    117

    The social sciences without planning or revolution? Martin Hopenhayn.

    129

    Growth and income distribution in countries at intermediate stages of development.

    Eduard[]o Sarmiento.

    141

    Monetary policy and an open capital account. Roberto Zahler.

    157

    Guidelines for contributors to

    167 Recent eclac publications cepal Review. 169

    C EPA L REVIEW No. 48

    In search of another form of development P ed ro Sáinz A lfredo C alcagno*

    The prime importance given in the 1980s to analysis of

    the economic depression, external imbalances and

    inflation in Latin America has left in the background the

    profound economic, institutional and social changes

    which took place in this period. Under the inspiration of

    neoliberal ideas, the institutional and macroeconomic

    reforms served both to dismanllc the previous form of

    development and to try to establish a new one. There

    were transfers of wealth and alterations in the structure of

    production, income distribution, the relation between

    capital and labour, public and private functions, and the

    place of the region in the international economy. Some

    of these changes took place in connection with

    anti-inflationary or external debt service policies.

    In the early 1990s, two countries seem to be coming

    close to a new form of development, with political

    stability and recovery of capital accumulation. In other

    countries, the policies followed have not managed to

    restore growth, price stability or previous levels of

    investment. The efforts to establish a new form of

    development confront various challenges: giving

    coherence to the reform process, whose scope and

    sequence are problems that have not yet been solved;

    securing a steady expansion in exports and accumulation;

    and preventing the further consolidation of the present

    economic and social

    Source : repositorio.cepal.org

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