ECON 202 Lecture Notes - Lecture 1: Gdp Deflator, Net National Product, Real Interest Rate
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Chapter 2: the fundamental identity of national income accounting implies ________, expenditure = production + income, expenditure = production = income, income =expenditure - production, income =expenditure/ production, none of the above. Answer: b: the statistic most often used by economists to measure the value of economic activity is. ________: gdp, the cpi, labor-force participation rate, the nominal interest rate, the real interest rate. Answer: a: which of the following is typically not counted in gdp, any nonmarket good and services, income generated from apartment rentals, illegal drug sales, all of the above, none of the above. Answer: d: in a two-good economy, the price of video games is and the price of energy drinks is . If the annual output of this economy is 100 video games and 500 drinks, the gdp is ________: ,080, ,200, ,000, ,200, none of the above.
