ninal and eal int sminal aned rea h of the following statements about ODP is com
ID: 1108703 • Letter: N
Question
ninal and eal int sminal aned rea h of the following statements about ODP is comeet ODP is generally not regarded as a measure of sety things all at once: the total proen b GDP measures period, the total income of everyone in the ecomHDY expenditure on the economy's output of good and services aiso is Shua Sae . The sum of wages, rents, and profits is less than a nations d. Mone y co s not measuously nows from households to firms and tien tuack so sonet 15. Tom lives in an apartment where he pays $8,000 a year in semt. Sarabh in in remt Sarab lbves in a honus be rented for $10,000 a year. How much do these housing vervises a. $10,000 b. $18,000 D.o d. $ 8,000 16, Which of the following items purchased by households are included in inve than consumption a. spending on education and the purchases of new housing b. spending on education and the purchases of stocks and bonds c. only the purchases of new houses d. only the purchase of stocks and bonds Which of the following is an example of a durable good? a. an ice cream cone b. a television c. a pair of socks d. gasoline om an American resident crosses the border to work in Canada sses the border to work in the U.S. Whose production is inc Neither Tom's nor Mike's.Explanation / Answer
13. c. Nominal and real interest rates do not always move together.
(Nominal interest rate is the prevailing interest, but the real interest rate accounts for rate of inflation)
14. b. GDP measures 3 things all at once.
(It measures the total production of an economy in a particular year and the consumption of those goods produced.)
15. c. $0.
(Only those goods that are produced in a particular will be counted in GDP calculation)
16. c. Only the purchase of new houses.
(Investment does not mean the purchase of stocks and bonds, rather than money spent to acquire goods)
17. A television.
(It is a hard good that does not quickly wear out).
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