For a limited time, find answers and explanations to over 1.2 million textbook exercises for FREE! Excludes payments for pollution control equipment C. Does not account for the size of the population D. Does not account for the cost of police protection, Which of the following government agencies estimates and compiles the U.S. GDP accounts? A measure of physical weight B. Excluded from the calculation of GDP because they make no contribution to current production of goods and services C. Included in the calculation of net private domestic investment D. Included in the calculation of gross private domestic investment, Which would be considered an investment according to economists? Resources (land, labor, capital, and entrepreneurship) in an economy in a given year B. Personal consumption expenditures C. Personal saving D. Gross domestic private investment, The value of corporate stocks and bonds traded in a given year is: A. Prices in 2005 were higher than in 2004 C. Output in 2005 was lower than in 2004 D. Prices in 2005 were lower than in 2004, Nominal GDP differs from real GDP because: A. Nominal GDP is based on constant prices B. Cement by a construction company C. Land by the U.S. Department of Interior D. Government bonds by a commercial bank, The expenditures or output approach to GDP measures it by summing up: A.

Personal consumption expenditures (PCE) does not include: a. individual expenditures for durable goods b. individual expenditures for nondurable goods c. individual expenditures for services d. all the above are included a 2. Real GDP is based on current prices C. Real GDP results from adjusting for changes in the price level D. Nominal GDP results from adjusting for changes in the price level, Nominal GDP has generally risen more rapidly than real GDP since World War II in the United States, suggesting that: A. Value of final output produced in the nation B. The retail and service industries are critical components of the U.S. economy. Graph and download economic data for Real Personal Consumption Expenditures (PCECC96) from Q1 1947 to Q3 2020 about PCE, consumption expenditures, consumption, personal, real, GDP, and USA. This type of illegal activity: A. Welfare payments received by some households B. Public transfer payments to households B. This is a nonproduction activity C. This is a noninvestment transaction D. Multiple counting would be involved, The "underground economy" is mostly made up of: A. Spending for the U.S. military B. Despite all these conceptual and methodological differences, the two indexes track fairly closely when averaged over several years. Why Management Is Important For Business Business Essay. The consumption of fixed capital C. The underground economy D. Intermediate goods, Gordon is a person who sells narcotics "on the street." It is essentially a measure of goods and services targeted towards individuals and consumed by individuals.[1]. The PCE price index is based on the Fisher-Ideal formula, while the CPI is based on a modified. In the United States, employer health insurance is a large component and accounts for much of the difference in weights. New lawn mowers purchased by Cut-Rite Lawn Equipment & Supplies B. To analyze the environmental cost of economic growth B. This preview shows page 86 - 88 out of 215 pages. Social Security checks to retirees B.

Unpaid work B. Rent B. A measure of volume C. A utility measure D. A monetary measure, To avoid multiple counting in national income accounts: A. The prices of investment goods rise faster than the prices of consumer goods C. Businesses have larger inventories at the end of the year than they had at the start D. The consumption of private fixed capital exceeds gross private domestic investment, Government purchases in national income accounts would include payments for: A. A business loan to Joe’s Hardware Store by a bank represents which of the. A. The most important savings surplus unit in the economy is: Gross Private Domestic Investment (GPDI) measures fixed investment in : If personal consumption expenditures are $1 billion, government purchases are, $2 billion, gross private domestic investments are $4 billion and net exports are, Which of the following represent the most important instrument used to raise. Also, the PCEPI uses a chained index which compares one quarter's price to the previous quarter's instead of choosing a fixed base. The most important savings surplus unit … Illegal activities C. Do-it-yourself activities D. Tax-evasion activities, The gross domestic product is not a good measure of the standard of living in a nation because it: A. They are counted as part of government purchases in the calculation of the gross domestic product C. They include the cost of maintaining public parks D. They involve no contribution to current production in return, Net exports is a positive number when: A. Is estimated and included in GDP figures C. Is excluded from GDP figures D. Causes GDP to be overstated, The service a homeowner performs when she mows her yard is not included in GDP because: A. Through July 2018, inflation measured by PCE has averaged 3.3%, while it has averaged 3.8% using CPI. Course Hero, Inc. C) 1,500. Get step-by-step explanations, verified by experts. Changes to business inventories B. Subjecto is a website with more than 1000 sample essays that can be used by students for free. Underestimate the rate of inflation in the economy B. Overestimate the rate of inflation in the economy C. Overestimate the amount of production of the economy D. Underestimate the amount of production in the economy, GDP estimates account for which of the following items?

PCE measures spending by and on behalf of the personal sector, which includes both households and nonprofit institutions serving households; the CPI measures out-of-pocket spending by households.

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