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1、1?2012CengageLearning.AllRightsReserved.Maynotbescannedcopiedduplicatedpostedtoapubliclyaccessiblewebsiteinwholeinpart.Chapter23MeasuringaNationsIncomeMULTIPLECHOICE1.Macroeconomistsstudya.thedecisionsofindividualhouseho
2、ldsfirms.b.theinteractionbetweenhouseholdsfirms.c.economywidephenomena.d.regulationsimposedonfirmsunions.ANS:CDIF:1REF:100NAT:AnalyticLOC:ThestudyofeconomicsdefinitionsineconomicsTOP:MacroeconomicsMSC:Definitional2.Which
3、ofthefollowingnewspaperheadlinesismecloselyrelatedtowhatmicroeconomistsstudythantowhatmacroeconomistsstudya.Unemploymentraterisesfrom5percentto5.5percent.b.RealGDPgrowsby3.1percentinthethirdquarter.c.Retailsalesatstessho
4、wlargegains.d.Thepriceofangesrisesafteranearlyfrost.ANS:DDIF:2REF:100NAT:AnalyticLOC:ThestudyofeconomicsdefinitionsineconomicsTOP:MacroeconomicsMSC:Interpretive3.Whichofthefollowingquestionsismelikelytobestudiedbyamicroe
5、conomistthanamacroeconomista.Whydopricesingeneralrisebymeinsomecountriesthaninothersb.Whydowagesdifferacrossindustriesc.Whydonationalproductionincomeincreaseinsomeperiodsnotinothersd.HowrapidlyisGDPcurrentlyincreasingANS
6、:BDIF:2REF:100NAT:AnalyticLOC:ThestudyofeconomicsdefinitionsineconomicsTOP:MacroeconomicsMSC:Interpretive4.Whichofthefollowingtopicsaremelikelytobestudiedbyamacroeconomistthanbyamicroeconomista.theeffectoftaxesontheprice
7、sofairlineticketstheprofitabilityofautomobilemanufacturingfirmsb.thepriceofbeefwagedifferencesbetweengendersc.howconsumersmaximizeutilityhowpricesareestablishedinmarketsfagriculturalproductsd.thepercentageofthelabfcethat
8、isoutofwkdifferencesinaverageincomefromcountrytocountryANS:DDIF:2REF:100NAT:AnalyticLOC:ThestudyofeconomicsdefinitionsineconomicsTOP:MacroeconomicsMSC:Interpretive5.Wewouldexpectamacroeconomistasopposedtoamicroeconomistt
9、obeparticularlyinterestedina.explaininghoweconomicchangesaffectpricesofparticulargoods.b.devisingpoliciestodealwithmarketfailuressuchasexternalitiesmarketpower.c.devisingpoliciestopromotelowinflation.d.identifyingthosema
10、rketsthatarecompetitivethosethatarenotcompetitive.ANS:CDIF:2REF:100NAT:AnalyticLOC:ThestudyofeconomicsdefinitionsineconomicsTOP:MacroeconomicsMSC:InterpretiveChapter23MeasuringaNationsIncome?3?2012CengageLearning.AllRigh
11、tsReserved.Maynotbescannedcopiedduplicatedpostedtoapubliclyaccessiblewebsiteinwholeinpart.2.Expendituresonanation’sdomesticproductiona.arelessthanitsdomesticproduction.b.areequaltoitsdomesticproduction.c.aregreaterthanit
12、sdomesticproduction.d.couldbelessthanequaltogreaterthanitsdomesticproduction.ANS:BDIF:1REF:101NAT:AnalyticLOC:ThestudyofeconomicsdefinitionsineconomicsTOP:GDPMSC:Definitional3.Incomegeneratedbyanation’sdomesticproduction
13、a.islessthanitsdomesticproduction.b.isequaltoitsdomesticproduction.c.isgreaterthanitsdomesticproduction.d.couldbelessthanequaltogreaterthanitsdomesticproduction.ANS:BDIF:1REF:101NAT:AnalyticLOC:Thestudyofeconomicsdefinit
14、ionsineconomicsTOP:GDPMSC:Definitional4.Faneconomyasawholea.wagesmustequalprofit.b.consumptionmustequalsaving.c.incomemustequalexpenditure.d.thenumberofbuyersmustequalthenumberofsellers.ANS:CDIF:2REF:101NAT:AnalyticLOC:T
15、hestudyofeconomicsdefinitionsineconomicsTOP:GDPMSC:Interpretive5.WhichofthefollowingstatementsaboutGDPiscrecta.GDPmeasurestwothingsatonce:thetotalincomeofeveryoneintheeconomythetotalexpenditureontheeconomy’soutputofgoods
16、services.b.MoneycontinuouslyflowsfromhouseholdstofirmsthenbacktohouseholdsGDPmeasuresthisflowofmoney.c.GDPisgenerallyregardedasthebestsinglemeasureofasociety’seconomicwellbeing.d.Alloftheabovearecrect.ANS:DDIF:2REF:101NA
17、T:AnalyticLOC:ThestudyofeconomicsdefinitionsineconomicsTOP:GDPMSC:Interpretive6.Becauseeverytransactionhasabuyerasellera.GDPismecloselyassociatedwithaneconomy’sincomethanitiswithaneconomy’sexpenditure.b.everytransactionc
18、ontributesequallytoaneconomy’sincometoitsexpenditure.c.thenumberoffirmsmustbeequaltothenumberofhouseholdsinasimplecircularflowdiagram.d.firms’profitsarenecessarilyzeroinasimplecircularflowdiagram.ANS:BDIF:2REF:101NAT:Ana
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