What is GDP measured in?

What is GDP measured in?
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1 Answer

Answer :

answer:Currency (like dollars). GDP is the total market value of all final goods and services produced within a country in a year.
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A period of expansion and contraction measured by real GDP is called (a) Business cycle (b) Expansion © Recession (d) Contraction

Description : A period of expansion and contraction measured by real GDP is called (a) Business cycle (b) Expansion © Recession (d) Contraction

Last Answer : (a) Business cycle

How is Nominal GDP is measured in?

Description : How is Nominal GDP is measured in?

Last Answer : Need answer

Nominal GDP is A. The total value of goods and services net of exports B. The total value of goods and services produced during periods of low unemployment C. The total value of goods and services measured at current prices D. The total value of goods and services produced at full employment.

Description : Nominal GDP is A. The total value of goods and services net of exports B. The total value of goods and services produced during periods of low unemployment C. The total value of goods and services measured at current prices D. The total value of goods and services produced at full employment.

Last Answer : C. The total value of goods and services measured at current prices

Economic growth can be measured by ___________. A. the CPI. B. the CBI. C. GDP. D. MPC.

Description : Economic growth can be measured by ___________. A. the CPI. B. the CBI. C. GDP. D. MPC.

Last Answer : C. GDP.

Nominal GDP is measured in ………………..prices (a) Base year ; (b) Current year ; (c) 1980 ; (d) 2000

Description : Nominal GDP is measured in ………………..prices (a) Base year ; (b) Current year ; (c) 1980 ; (d) 2000

Last Answer : (b) Current year ;

Real GDP is measured in………….prices (a) Base year ; (b) Current year ; (c) 1980 ; (d) 2000

Description : Real GDP is measured in………….prices (a) Base year ; (b) Current year ; (c) 1980 ; (d) 2000

Last Answer : Base year

Nominal GDP is (a) The total value of goods and services net of exports (b) The total value of goods and services produced during periods of low unemployment (c) The total value of goods and services measured at current prices (d) The total value of goods and services produced at full employment.

Description : Nominal GDP is (a) The total value of goods and services net of exports (b) The total value of goods and services produced during periods of low unemployment (c) The total value of goods and services measured at current prices (d) The total value of goods and services produced at full employment.

Last Answer : (c) The total value of goods and services measured at current prices

What is the effect on the GDP and the well-being of Canadians?

Description : What is the effect on the GDP and the well-being of Canadians?

Last Answer : answer:Welcome to Fluther! This looks much like a homework question, though I could be wrong. But I doubt it in this case. Clue us in on the answers that you’ve developed so far and I’m sure that people will be happy to help you work out the answers via discussion.

Are indirect business taxes included in the measurement of GDP?

Description : Are indirect business taxes included in the measurement of GDP?

Last Answer : I'm pretty sure they aren't included at all, just like Government spending does not include benefit payments for GDP purposes. GDP is all about what an economy produces; things like taxes and food stamps ... what a country is producing. I'm still not 100% on that though, so you should verify it.

Sectoral distribution of GDP index measures ______. (1) Agriculture development of a country (2) Economic development of a country (3) Social development of a country (4) Socio-Economic development of a Country

Description : Sectoral distribution of GDP index measures ______. (1) Agriculture development of a country (2) Economic development of a country (3) Social development of a country (4) Socio-Economic development of a Country

Last Answer : (2) Economic development of a country Explanation: The sectoral distribution of GDP index measures the development of a country across several economic activities. It the market value of all final goods and services produced in a period (quarterly or yearly).

Which terns is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country? (1) GDP (2) GPN (3) OMP (4) GNP

Description : Which terns is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country? (1) GDP (2) GPN (3) OMP (4) GNP

Last Answer : (4) GNP Explanation: Gross National Product (GNP) is defined as "the market value of all goods and services produced in one year by labour and property supplied by the residents of a country. It is ... ), defined as "the value of all final goods and services produced in a country in I year."

Net National Product of a country is - (1) GDP minus depreciation allowances (2) GDP plus net income from abroad (3) GNP minus net income from abroad (4) GNP minus depreciation allowances

Description : Net National Product of a country is - (1) GDP minus depreciation allowances (2) GDP plus net income from abroad (3) GNP minus net income from abroad (4) GNP minus depreciation allowances

Last Answer : (4) GNP minus depreciation allowances Explanation: Net national product (NNP) is the total market value of all final goods and services produced by residents in a country or other polity during a given ... and NDP is equal to gross domestic product (GDP) minus depreciation: NDP = GDP - depreciation.

Which of the following is a better measurement of Economic Development? (1) GDP (2) Disposable income (3) NNP (4) Per capita income

Description : Which of the following is a better measurement of Economic Development? (1) GDP (2) Disposable income (3) NNP (4) Per capita income

Last Answer : (4) Per capita income Explanation: Per capita income or average income or income per person is the mean income within an economic aggregate, such as a country or city. It is calculated by taking a ... individuals and nation. Besides, it helps to show the level of inequality in a society or country.

In a highly developed country the relative contribution of agriculture to GDP is (1) relatively high (2) relatively low (3) the same as that of other sectors (4) zero

Description : In a highly developed country the relative contribution of agriculture to GDP is (1) relatively high (2) relatively low (3) the same as that of other sectors (4) zero

Last Answer : (2) relatively low Explanation: In developed countries, the labor productivity of any commercial agriculture is high, so only a very small percentage of the population is involved with agriculture ... the primary sectors of the economy have sizeable contributions in the GDP of developing nations.

. Mention the percentage share of primary sector in GDP in 1973. (a) 22% (b) 23% (c) 45% (d) 61%

Description : . Mention the percentage share of primary sector in GDP in 1973. (a) 22% (b) 23% (c) 45% (d) 61%

Last Answer : (c) 45%

Over the years the contribution of agriculture to Indian GDP is a. Increasing b. Decreasing c. Constant d. None of these

Description : Over the years the contribution of agriculture to Indian GDP is a. Increasing b. Decreasing c. Constant d. None of these

Last Answer : b. Decreasing

6. Using the numbers in question 5, the Real GDP for 2002 is: a. $400 b. $500 c. $800 d. $900 e. $1,300

Description : 6. Using the numbers in question 5, the Real GDP for 2002 is: a. $400 b. $500 c. $800 d. $900 e. $1,300

Last Answer : c. $800

5. Assume that there are two goods, A and B. In 1996, Americans produced 10 units of A at a price of $10 and 20 units of B at a price of $20. In 2002, Americans produced 20 units of A at a price of $20 and 30 units of B at a price of $30. The Nominal GDP for 2002 is: a. $100 b. $400 c. $500 d. $900 e. $1300

Description : 5. Assume that there are two goods, A and B. In 1996, Americans produced 10 units of A at a price of $10 and 20 units of B at a price of $20. In 2002, Americans produced 20 units of A at a price of $20 ... at a price of $30. The Nominal GDP for 2002 is: a. $100 b. $400 c. $500 d. $900 e. $1300

Last Answer : e. $1300

8. If the government lowers taxes by $10 billion, the Real GDP will rise by a. more than $10 billion b. less than $10 billion c. exactly $10 billion

Description : 8. If the government lowers taxes by $10 billion, the Real GDP will rise by a. more than $10 billion b. less than $10 billion c. exactly $10 billion

Last Answer : a. more than $10 billion

6. Assume that Potential Real GDP equals $10,000. National Income is therefore $10,000. Of this, consumers will pay $2,000 in taxes, save $1,000, and spend $7,000 on consumer goods. Business Investment spending is $2000. In order to avoid recessions and inflation (to have equilibrium), the government should have a: a. balanced budget b. budget deficit of $1000 c. budget surplus of $1000 d. budget deficit of $2000 C C A A C

Description : 6. Assume that Potential Real GDP equals $10,000. National Income is therefore $10,000. Of this, consumers will pay $2,000 in taxes, save $1,000, and spend $7,000 on consumer goods. Business Investment ... . budget deficit of $1000 c. budget surplus of $1000 d. budget deficit of $2000 C C A A C

Last Answer : c. budget surplus of $1000

5. Disposable Income is equal to: a. National Income c. National Income Minus Taxes b. Real GDP c. National Income Minus Taxes d. National Income Minus Taxes Plus Transfers

Description : 5. Disposable Income is equal to: a. National Income c. National Income Minus Taxes b. Real GDP c. National Income Minus Taxes d. National Income Minus Taxes Plus Transfers

Last Answer : d. National Income Minus Taxes Plus Transfers

4. For which of the following reasons might inflation cause Real GDP to grow slower than it otherwise would? a. Inflation makes everyone poorer b. Inflation reduces the value of consumer debt c. Inflation increases business investment spending d. Inflation decreases savings in financial form

Description : 4. For which of the following reasons might inflation cause Real GDP to grow slower than it otherwise would? a. Inflation makes everyone poorer b. Inflation reduces the value of consumer debt c. Inflation increases business investment spending d. Inflation decreases savings in financial form

Last Answer : d. Inflation decreases savings in financial form

What is the correct formula for GDP Deflater? a) Nominal GDP - (minus) Real GDP b) Nominal GDP + Real GDP c) Nominal GDP/ Real GDP d) Real GDP/ Nominal GDP

Description : What is the correct formula for GDP Deflater? a) Nominal GDP - (minus) Real GDP b) Nominal GDP + Real GDP c) Nominal GDP/ Real GDP d) Real GDP/ Nominal GDP

Last Answer : c) Nominal GDP/ Real GDP

The terms of trade measures (a) the income of a country compared to another (b) The GDP of a country compared to another © The quantity of exports of a country compared to another (d) Export prices compared to import prices.

Description : The terms of trade measures (a) the income of a country compared to another (b) The GDP of a country compared to another © The quantity of exports of a country compared to another (d) Export prices compared to import prices.

Last Answer : (d) Export prices compared to import prices.

Which of the following is not a component of GDP? (a) Government spending (b) Investment © Interest (d) Net exports

Description : Which of the following is not a component of GDP? (a) Government spending (b) Investment © Interest (d) Net exports

Last Answer : © Interest

Sectoral distribution of GDP index measures_________ (1) Agriculture development of a country (2) Economic development of a country (3) Social development of a country (4) Socio-Economic development of a Country

Description : Sectoral distribution of GDP index measures_________ (1) Agriculture development of a country (2) Economic development of a country (3) Social development of a country (4) Socio-Economic development of a Country

Last Answer :  Economic development of a country

Which term is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country? (1) GDP (2) GPN (3) OMP (4) GNP

Description : Which term is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country? (1) GDP (2) GPN (3) OMP (4) GNP

Last Answer : GNP

In a highly developed country the relative contribution of agriculture to GDP is (1) relatively high (2) relatively low (3) the same as that of other sectors (4) zero

Description : In a highly developed country the relative contribution of agriculture to GDP is (1) relatively high (2) relatively low (3) the same as that of other sectors (4) zero 

Last Answer : relatively low

Net National Product of a country is (1) GDP minus depreciation allowances (2) GDP plus net income from abroad (3) GNP minus net income from abroad (4) GNP minus depreciation allowances

Description : Net National Product of a country is (1) GDP minus depreciation allowances (2) GDP plus net income from abroad (3) GNP minus net income from abroad (4) GNP minus depreciation allowances

Last Answer :  GNP minus depreciation allowances

Which of the following is a better measurement of Economic Development ? (1) GDP (2) Disposable income (3) NNP (4) Per capita income

Description : Which of the following is a better measurement of Economic Development ? (1) GDP (2) Disposable income (3) NNP (4) Per capita income

Last Answer : Per capita income

What would it be like in a world where a person’s emotional and social worth could be accurately measured?

Description : What would it be like in a world where a person’s emotional and social worth could be accurately measured?

Last Answer : It’d be the easiest way to riches. Possibly a more prosperous society, too. Good question. Sucks the world doesn’t operate like that.

"he national income consists of a collection of goods and services reduced to common basis by being measured in terms of money,"— Who says this? (1) Samuelson (2) Kuznets (3) Hicks (4) Pigou

Description : "he national income consists of a collection of goods and services reduced to common basis by being measured in terms of money,"— Who says this? (1) Samuelson (2) Kuznets (3) Hicks (4) Pigou

Last Answer : (3) Hicks Explanation: British economist John Hicks said that National income is a collection of goods and services reduced to a common basis by being measured in terms of money. Hicks ... macroeconomics. His book Value and Capital (1939) significantly extended general-equilibrium and value theory.

The degree of monopoly power is to be measured in terms of the firm's- (1) normal profit (2) supernormal profit (3) both normal and supernormal profit (4) selling price

Description : The degree of monopoly power is to be measured in terms of the firm's- (1) normal profit (2) supernormal profit (3) both normal and supernormal profit (4) selling price

Last Answer : (2) supernormal profit Explanation: Monopoly power implies the amount of discretion which a monopolist possesses to fix up the prices of his products and degree of control over his output decisions. ... the degree of monopoly power can be measured by the monopoly firm's super-normal profit.

The consumptive use of water for a crop a. Is measured as the volume of water per unit area b. Is measured as depth of water on irrigated area c. May be supplied partly by precipitation and partly by irrigation d. All the above

Description : The consumptive use of water for a crop a. Is measured as the volume of water per unit area b. Is measured as depth of water on irrigated area c. May be supplied partly by precipitation and partly by irrigation d. All the above

Last Answer : d. All the above

Direct solar radiation is measured with — instrument.(Agriculture MCQ) a. Pyranometer b. Pyrheliometer c. Photometer d. Altimeter

Description : Direct solar radiation is measured with — instrument.(Agriculture MCQ) a. Pyranometer b. Pyrheliometer c. Photometer d. Altimeter

Last Answer : b. Pyrheliometer

The ratio of foreign rates to domestic rates measured in the 'same' currency is known as:a) Real exchange rateb) Nominal exchange ratec) Superfluous exchange rated) None of the above

Description : The ratio of foreign rates to domestic rates measured in the 'same' currency is known as: a) Real exchange rate b) Nominal exchange rate c) Superfluous exchange rate d) None of the above

Last Answer : a) Real exchange rate

Demand curve can be derived from the law of diminishlng marginal utility on which of the following assumptions? (i) Utility can be measured in quantitative terms (ii) Utility of money is constant Of these statements: A.Only (i) is true B.Both (i) and (ii) are true C.Only (ii) is true D.Neither (i) nor (ii) is true

Description : Demand curve can be derived from the law of diminishlng marginal utility on which of the following assumptions? (i) Utility can be measured in quantitative terms (ii) Utility of money is constant Of these statements: A.Only ... ) and (ii) are true C.Only (ii) is true D.Neither (i) nor (ii) is true

Last Answer : B.Both (i) and (ii) are true

The degree of Monopoly power can be measured by the formula : (a) (P – MC) / P (b) AR / (AR – MR) (c) MR / (AR – MR) (d) MC / (AR – MR)

Description : The degree of Monopoly power can be measured by the formula : (a) (P – MC) / P (b) AR / (AR – MR) (c) MR / (AR – MR) (d) MC / (AR – MR)

Last Answer : (a) (P – MC) / P

Economic growth is measured by (a) Increase in national income (b) increase in infrastructure (c) increase in economic welfare (d) urbanisation

Description : Economic growth is measured by (a) Increase in national income (b) increase in infrastructure (c) increase in economic welfare (d) urbanisation

Last Answer : (a) Increase in national income

The average propensity to consume is measured by (a) C/Y (b) C=Y © Y/C (d) C+Y

Description : The average propensity to consume is measured by (a) C/Y (b) C=Y © Y/C (d) C+Y

Last Answer : a) C/Y

“The national income consists of a collection of goods and services reduced to common basis by being measured in terms of money.”–– Who says this ? (1) Samuelson (2) Kuznets (3) Hicks (4) Pigou

Description : “The national income consists of a collection of goods and services reduced to common basis by being measured in terms of money.”–– Who says this ? (1) Samuelson (2) Kuznets (3) Hicks (4) Pigou

Last Answer : Hicks

The degree of monopoly power is to be measured in terms of the firm’s (1) normal profit (2) supernormal profit (3) both normal and supernormal profit (4) selling price

Description : The degree of monopoly power is to be measured in terms of the firm’s (1) normal profit (2) supernormal profit (3) both normal and supernormal profit (4) selling price 

Last Answer : supernormal profit

Where can I find countries GDP growth by sector?

Description : Where can I find countries GDP growth by sector?

Last Answer : answer:What countries? If you want official numbers for Europe, go to the OECD website. http://www.oecd.org/ For Asia, ASEAN http://www.asean.org/ Or try the United Nations website. It really depends on whare and what you are looking for.

For GDP purposes, do economists classify education spending as consumption, investment, or gov't spending?

Description : For GDP purposes, do economists classify education spending as consumption, investment, or gov't spending?

Last Answer : I don't think you can make that kind of generalization, lumping public and private education together. I've only taken AP Macroeconomics so I'm certainly no expert, but I would think that publicly ... though, that's a large generalization, the types of spending would have to be further broken down.

Does this graph of median income and per capita GDP pretty much say it all?

Description : Does this graph of median income and per capita GDP pretty much say it all?

Last Answer : answer:You might find the Gini coefficient interesting. We keep some bad company in the income inequality department. But don’t worry. If you work hard enough you will be rich someday. ~

What indicators could replace the GDP to measure how well a nation is doing?

Description : What indicators could replace the GDP to measure how well a nation is doing?

Last Answer : Quality of living, Low environmental impact, distribution of wealth, healthy people, whether or not strangers smile at you on the street.

What are developing countries that can be developed in the next 5-10 years in terms of HDI And GDP?

Description : What are developing countries that can be developed in the next 5-10 years in terms of HDI And GDP?

Last Answer : Vietnam

7. For each of the sectors that we came across in this chapter why should one focus on employment and GDP? Could there be other issues which should be examined? Discuss. -Economics 10th

Description : 7. For each of the sectors that we came across in this chapter why should one focus on employment and GDP? Could there be other issues which should be examined? Discuss. -Economics 10th

Last Answer : Employment and GDP are two of the most important factors in the development of a country. Employment and GDP are used to calculate the overall productivity and National ... chapter. Other issues which should be examined are as follows:Health care facilitiesEducationPovertyFood ProductionNourishment

What is GDP ? Who is responsible for collecting data for the GDP in India ? -SST 10th

Description : What is GDP ? Who is responsible for collecting data for the GDP in India ? -SST 10th

Last Answer : It is the value of goods and services produced within a country during a given time period. In India, the mammoth task of measuring the GDP is undertaken by a central government ministry. This ... relating to the total volume of goods and services and their prices, and then estimates the GDP.

What is GDP ? Assess the contribution of Secondary and Tertiary Sectors to the GDP of India. -SST 10th

Description : What is GDP ? Assess the contribution of Secondary and Tertiary Sectors to the GDP of India. -SST 10th

Last Answer : (i) Gross Domestic Product (GDP) refers to the money value of final goods and services produced in each sector. (ii) (a) The contribution of secondary sector to the Gross Domestic Product (GDP) in ... (b) The contribution of tertiary sector to the Gross Domestic Product (GDP) in India is about 53%.