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Exam (elaborations)

MACROECONOMICS CH 7 QUESTIONS WITH CORRECT ANSWERS 2025

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MACROECONOMICS CH 7 QUESTIONS WITH CORRECT ANSWERS 2025

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Business Finance
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Institution
Business finance
Course
Business finance

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Uploaded on
November 10, 2024
Number of pages
2
Written in
2024/2025
Type
Exam (elaborations)
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  • macroeconomics ch 7 questions with correct answers

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MACROECONOMICS CH 7 QUESTIONS
WITH CORRECT ANSWERS 2025
U.S.BGDPBinB2015BwasBaboutB-BcorrectBanswer-$18Btrillion



ArthurBsellsB$100BworthBofBcottonBtoBBob.BBobBturnsBtheBcottonBintoBcloth,BwhichBheBsellsBtoBCamilleBforB$
300.BCamilleBusesBtheBclothBtoBmakeBpromBdressesBthatBsheBsellsBtoBDonitaBforB$700.BDonitaBsellsBtheBdres
sesBforB$1,200BtoBkidsBattendingBtheBprom.BTheBtotalBcontributionBtoBGDPBofBthisBseriesBofBtransactionsBisB-
BcorrectBanswer-$1200B(sellingBprice=BcontributionBtoBGDP)




ReferBtoBtheBaccompanyingBdata.BAllBfiguresBareBinBbillionsBofBdollars.BTheBgrossBdomesticBproductBisB-
BcorrectBanswer-$307




InBaBtypicalByear,BwhichBofBtheBfollowingBmeasuresBofBaggregateBoutputBandBincomeBisBlikelyBtoBbeBtheBsma
llest?B-BcorrectBanswer-disposableBincome



TransferBpaymentsBareBincludedBinB-BcorrectBanswer-PIB(PersonalBIncome)



SupposeBthatBGDPBwasB$200BbillionBinByearB1BandBthatBallBotherBcomponentsBofBexpendituresBremainedBth
eBsameBinByearB2BexceptBthatBbusinessBinventoriesBfellBbyB$10Bbillion.BGDPBinByearB2BisB-BcorrectBanswer-
$190Bbillion



TheBvalueBofBtransactionsBinBtheBundergroundBeconomyBisBestimatedBtoBbeBaboutBwhatBpercentageBofBGD
PBinBtheBUnitedBStates?B-BcorrectBanswer-8%



PersonalBincomeB(PI)BisBtheBincomeBthatBhouseholdsBareBfreeBtoBspendBorBsaveBasBtheyBplease.B-
BcorrectBanswer-False:BIncomeBwithoutBtaxes




InB2012,BTrailblazerBBicycleBCompanyBproducedBaBmountainBbikeBthatBwasBdeliveredBtoBaBretailBoutletBinBN
ovemberB2012.BTheBbicycleBwasBsoldBtoBE.Z.BRyderBinBMarchB2013.BThisBbicycleBisBcountedBasB-
BcorrectBanswer-investmentBinB2012BandBasBnegativeBinvestmentBinB2013




IfBrealBdisposableBincomeBfellBduringBaBparticularByear,BweBcanBconcludeBthatB-BcorrectBanswer-
NoneBofBtheseBoccurredB(personalBtaxesBincreased,BinflationBoccurred,BtransferBpaymentsBdeclined)
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