The Data of Macroeconomics

Question 1

What are the three statistics that economists and policymakers use most often?

Answer 1

GDP, CPI, Unemployment

Question 2

The accounting system used to measure GDP and many related statistics

Answer 2

national income accounting

Question 3

Does the sale of a good affect GDP?

Answer 3

no

Question 4

The general rule is that when a firm increases its inventory of goods, this investment in inventory is counted as an expenditure by the firm owners

Answer 4

.

Question 5

3 subcategories of consumption

Answer 5

durable goods, nondurable goods, and services

Question 6

3 categories for investment

Answer 6

business fixed investment, inventory investment, and residential fixed investment

Question 7

Gross National Product Formula

Answer 7

GDP + Factor Payments from Abroad - Factor Payments to Abroad

Question 8

Formula for NNP

Answer 8

GNP - Depreciation

Question 9

Economists call a price index with a fixed basket of goods a _____ index

Answer 9

Laspeyres index

Question 10

Economists call a price index with a changing basket a _____ index

Answer 10

Paasche index