polling questions + Q&A Flashcards
saving이 negative가 될 수 있다. true or false? if yes, in what condition(s)?
true. disposable income이 zero가 되고, government가 없다면 가능. dis-save라고 불림.
total saving 과 national saving은 같은 것이다. true or false?
true. total 또는 national saving이 private 하고 public saving으로 구성되어 있는거임.
In the short run, price of goods, bonds, and holding money (interest rate) is given. true or false?
false. In short run, only price of goods are given. Price of bonds and price of holding money (or interest rate) is not given.
money demand increases when liquidity increases. true or false?
true. and that liquidity function is 반비례 to interest rate. be careful!
if c0 or I or G increases by 1 billion, autonomous spending increases by 1 billion. true of false?
true. of course, eqm output as a whole will increase more than 1 billion because of multiplier effect, but in this case, the question said ‘autonomous spending’, not ‘eqm output.’
when we refer to T it means pure tax collected from people. true or false?
false. When we use T, it is tax - transfers. In other words, [tax collected from people] - [transfer giveaway to people]
government purchase and goverment spending is the same thing. true or false?
true. it’s just a different words for same thing.
T is not net tax. It is before netting the transfer. true or false?
false. T is net tax, which already minused the transfer.
YD or disposable income is income after paying tax and didn’t get transfer yet. true or false?
false. disposable income is after paying tax and ‘also’ getting transfer.
GDP deflator is shows nominal price level and base year and compared year price has their own index. true or false?
false. GDP deflator is a price index. But it can be (relative) price level because it depends on the price level of base year.
fixed investment done by firm is called ‘non-residential investment’. true or false?
true.
if new car 10,000 is sold at 8,000 next year and service charge is 10%, what is value added next year and the depreciation of the car?
8,000 x 10% = 800 is value added. Because real vlaue is 8,000-800=7,200, depreciation of car is 10,000-7,200 = 2,800.
wages to government employees should not be in G (government expenditure) because government employees will use it and it will be counted in C. true or false?
false. because 공무원 월급 is buying actual service.
subsidy or transfers are counted as G. true or false?
false. because subsidy is given free and people didn’t provide any new product or service for that. So it shouldn’t be counted in G which is composition of GDP.
high unemployment rate is typically associated with lower participation rate because of many discourage workers; and will lead to low unemployment rate at the end. true or false?
false. high unemployment rate usually lead to discouragement. And it will indeed lead to lower participation rate. But unemployment out weighs the discouragement so unemployment rate will remain high while labor force in total (or participation rate) will go lower at the same time.
