1. Answer True or False for each of the following. GDP per capita is GDP divided

ID: 1178878 • Letter: 1

Question

1. Answer True or False for each of the following.

GDP per capita is GDP divided by the population growth rate.

Disposable personal income is what you have left over after paying basic living expenses.

Gross Domestic Product, is always preferred to Net Domestic Product by economists.

Real GDP is always lower than nominal GDP.

The GDP deflator is a good cost of living index.

GDP is more volatile in the short-run than the long-run.

All government spending is in GDP.

If GDP is adjusted for purchasing power, the US usually improves its relative position.

The sale of primary and intermediate goods are excluded from GDP

Historically, a recession generally meant GDP was falling.

GDP per capita is GDP divided by the population growth rate.-TRUE

Disposable personal income is what you have left over after paying basic living expenses-----------..-TRUE

Gross Domestic Product, is always preferred to Net Domestic Product by economists.-FALSE

Real GDP is always lower than nominal GDP.-FALSE

The GDP deflator is a good cost of living index.---..-TRUE

GDP is more volatile in the short-run than the long-run.-FALSE

All government spending is in GDP..-FALSE

If GDP is adjusted for purchasing power, the US usually improves its relative position..-FALSE

The sale of primary and intermediate goods are excluded from GDP---..-TRUE

Historically, a recession generally meant GDP was falling...-FALSE

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