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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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