Suppose GDP is equal to $440 billion in two countries and that Country A has 100 million people and Country B has 175. In this situation, per capital GDP is
A) the same in both countries.
B) higher in Country A.
C) higher in Country B.
D) an irrelevant factor.
102) A valid criticism of the decision not to include non-remunerated housework in GDP calculations is
A) it would decrease the employment rate for domestic work.
B) the difficulty in measuring quality and quantity.
C) it is not a product or service.
D) it will understate the value of production in the economy.
103) Which of the following is a main limitation of GDP?
A) GDP figures are grossly inaccurate due to sampling errors
B) The real definition of what is and is not included in GDP is unclear
C) GDP is not a good measure of a nation's overall welfare
D) GDP includes some products which by their very nature are bad products, such military weapons
104) Comparing two countries GDP over time is likely to be misleading if one wants to determine whether standards of living are better in one country because
A) the figures need to be adjusted for different types of currency.
B) the figures need to be adjusted for price changes and population differences.
C) the figures need to be adjusted to account for production differences.
D) NDP instead of GDP should be used.
105) The problem with using foreign exchange rates to convert one country's GDP into dollars is that
A) the values of currencies are not comparable.
B) exchange rates do not reflect differences in inflation rates.
C) not all goods and services are sold on world markets.
D) the dollar has been losing value over the last twenty years.
106) Purchasing power parity refers to
A) adjustments in GDP figures to put everything into one common currency for comparison sake.
B) adjustments in exchange rate conversions that take into account differences in inflation rates across countries.
C) adjustments in exchange rate conversions that take into account the differences in true cost of living across countries.
D) calculating real, per capita GDPs in dollars.
107) The most accurate way to compare standards of living throughout the world is to look at
A) total GDP.
C) purchasing power parity.
D) foreign exchange rates.
The antibiotic penicillin acts by interfering with the production of peptidoglycan. Cells treated with penicillin do not die immediately, but they cannot reproduce. Expla...Jun 05 2021
Describe the trend in assets invested in 401(k) plans in the 1990s and 2000s. ( LG 18-3)May 10 2020
Budgeted Income StatementCoral Seas Jewelry Company makes and sells costume jewelry. For the coming year, Coral Seas expects sales of $15.9 million and cost of goods sold...Aug 08 2021
A new company expects to spend $100,000 per year for labor and $125,000 per year for supplies over the next 3 years - At an interest rate of 12% peryear what is the futur...Apr 30 2018
A product has a demand of 12,000 units per year. Ordering cost is RO 60, and holding cost is RO 4 per unit per year. The EQ model is appropriate. The cost-minimizing solu...Apr 29 2021
Behaviour is generally predictable, so there is no need to formally study OB". Why is that statement wrongJul 25 2020
What are reference groups? How do they influence buying behavior? Name some of your own reference groups.Here is a tip:Opinion leaders are people who possess knowledge an...Jul 03 2021
This individual assignment involves an analysis of general economic conditions or systematic risk, i.e., the risk that affects all industries and companies, in the U.S. m...Nov 24 2017
When the receptionist told Mrs. Jensen that she could not be seen again in the dental office is Dr. Klein still liable? Why or why not?Jun 25 2020
Comprehensive - The Lurch Company’s December 31, 2006 balance sheet follows:AssetsCash$540,000Inventory450,000Prepaid rent60,000Machine$500,000Less: Accumulated depreciat...May 21 2020