To adjust GDP from market prices to factor cost ?

Related Mcqs:

1. Real GDP is measured in __________ prices while nominal GDP is measured in _________ prices?

   A. foreign; domestic
   B. current year; base year
   C. domestic; foreign
   D. base year; current year
   E. intermediate; final

2. If nominal GDP in 2005 exceeds nominal GDP in 2004, then the production of output ?

   A. must have fallen
   B. must have risen
   C. must have stayed the same
   D. may have risen fallen, or stayed the same because there is not enough information to determine what happened to real output

3. If, in the long run, people adjust their price expectations so that all prices and incomes move proportionately to an increase in the price level then the long-run Phillips curve ?

   A. is vertical
   B. is negatively sloped
   C. has a slope that is determined by how fast people adjust their price expectations
   D. is positively sloped

4. Suppose the economy is initially in long run equilibrium Then suppose there is a drought that destroys much of the wheat crop if policymakers allow the economy to adjust to long-run equilibrium on its own, according to the model to aggregate demand and aggregate supply what happens to prices and output in the long run ?

   A. Output rises; prices are unchanged from the initial value
   B. Output and the price level are unchanged from their initial values
   C. Output falls; prices are unchanged from the initial value
   D. Prices fall; output is unchanged from its initial value

5. Prices that do not always adjust rapidly to maintain equality between quantity supplied and quantity demanded are ?

   A. market prices
   B. sticky prices
   C. fixed prices
   D. regulatory prices

6. Real GDP is nominal GDP measured in constant ?

   A. taxes
   B. prices
   C. exchange rates
   D. interest rates

7. If GDP for Palau a small country near southeast of the Philippines is $130 million in 2012 and its population is 20,000 GDP per capita is ?

   A. 6500
   B. 130
   C. 0.0065
   D. 650

8. IF GDP for Maldivies is $435 million in 2012 and the GDP per capita is $1576.087 the population of the country must be ?

   A. 276,000
   B. 1576,086
   C. 0.276
   D. 3.623

9. If GDP for Barbados is $260 million in 2011 and its population is 260,000 GDP per capita is ?

   A. 1000
   B. 260
   C. 0.001
   D. 259740

10. If in Pakistan real GDP/person in 2004 is Rs18,073 and real GDP/person is 2005 is Rs18,635 What is the growth rate of real output per person over this period ?

    A. 3.1 percent
    B. 3.0 percent
    C. 18.6 percent
    D. 18.0 percent