Created by
Sapling
Terms in this set (20)
Included in the GDP of the US
-Honda's assembly and sale of cars in the US
-Old Navy purchases mannequins to display clothes
NOT included in the GDP of the US
-sale of wheat to Mrs. Baird's Bakery
-Resale of used textbooks to college students
-GM's assembly and sale of cars in Mexico
-Ocean Spray purchases plastic to make bottles
-Honda's assembly and sale of cars in the US
-Old Navy purchases mannequins to display clothes
NOT included in the GDP of the US
-sale of wheat to Mrs. Baird's Bakery
-Resale of used textbooks to college students
-GM's assembly and sale of cars in Mexico
-Ocean Spray purchases plastic to make bottles
Not included in GDP because of double counting
-wheels used to produce a skateboard that will be sold new
-a used copy of the Tony Hawk video game
-a used skateboard you buy for your brother
-a previously owned collectors skateboard
Included in GDP
-a new skateboard you buy for your niece
-the commission paid to the seller of a perviously owned collectors skateboard
-wheels used to produce a skateboard that will be sold new
-a used copy of the Tony Hawk video game
-a used skateboard you buy for your brother
-a previously owned collectors skateboard
Included in GDP
-a new skateboard you buy for your niece
-the commission paid to the seller of a perviously owned collectors skateboard
Label the statements as increasing GDP in either Canada or the United States
a. Toyota, a Japanese company, manufactures cars in San Antonio, Texas
b. Toyota, a Japanese company, manufactures cars in Toronto, Ontario
c. ATI Technologies, a Canadian company, operates in Alberta
d. Starbucks, a US company, opens stores in New York state
e. Tim Horton's, a Canadian company, opens coffee shops in New England
a. Toyota, a Japanese company, manufactures cars in San Antonio, Texas
b. Toyota, a Japanese company, manufactures cars in Toronto, Ontario
c. ATI Technologies, a Canadian company, operates in Alberta
d. Starbucks, a US company, opens stores in New York state
e. Tim Horton's, a Canadian company, opens coffee shops in New England
Consider the table of GDP and population for several imaginary countries.
..................................................................................................................................................................
Country......................GDP...............Population...............GDP per capita
Wrigleyville 511.0 137.0 -- Longhornland 2339 161 --
Dinkytown -- 239.00 1.600
..................................................................................................................................................................
Using this information, please answer the questions. If there is not enough information to answer a question, please enter −11.
A. What is the GDP per capita of Longhornland in U.S. dollars? Express your answer rounded to one decimal place.
B. What is the GDP of Dinkytown in millions of U.S. dollars? Express your answer rounded to one decimal place.
..................................................................................................................................................................
Country......................GDP...............Population...............GDP per capita
Wrigleyville 511.0 137.0 -- Longhornland 2339 161 --
Dinkytown -- 239.00 1.600
..................................................................................................................................................................
Using this information, please answer the questions. If there is not enough information to answer a question, please enter −11.
A. What is the GDP per capita of Longhornland in U.S. dollars? Express your answer rounded to one decimal place.
B. What is the GDP of Dinkytown in millions of U.S. dollars? Express your answer rounded to one decimal place.
Use the table to answer the questions. Round your answers to the nearest cent
Country A - 2.5 trillion GDP, 100 million Population
Country B - 6 trillion GDP, 960 million Population
What is the GDP per capita for Country A?
What is the GDP per capita for Country B?
Which country has the largest average GDP per capita?
Country A - 2.5 trillion GDP, 100 million Population
Country B - 6 trillion GDP, 960 million Population
What is the GDP per capita for Country A?
What is the GDP per capita for Country B?
Which country has the largest average GDP per capita?
The GDP deflator formula can be used in a variety of ways. Use it to answer the questions that follow. Round final answers to two decimal places, as needed.
Real GDP GDP deflator
2012 $2100.00 120.00
A. Nominal GDP in 2012 = ?
Nominal GDP Real GDP
2010 $600 $300
2011 $1700 $1200
B. 2010 GDP deflator = ?
C. 2011 GDP deflator = ?
Nominal GDP GDP deflator
2013 $3600.00 140.00
D. Real GDP in 2013 = ?
Real GDP GDP deflator
2012 $2100.00 120.00
A. Nominal GDP in 2012 = ?
Nominal GDP Real GDP
2010 $600 $300
2011 $1700 $1200
B. 2010 GDP deflator = ?
C. 2011 GDP deflator = ?
Nominal GDP GDP deflator
2013 $3600.00 140.00
D. Real GDP in 2013 = ?
Use the table to answer the questions. Define productivity as GDP per worker, and please enter all answers as numerical values rounded to 3 decimal places, and not as percentages (e.g., 0.103
instead of 10.3%).
GDP Population Workers
Year 1 1001 159 123
Year 2 1209 287 243
What is the GDP growth rate?
What is GDP per capita growth rate?
What is the productivity growth rate?
instead of 10.3%).
GDP Population Workers
Year 1 1001 159 123
Year 2 1209 287 243
What is the GDP growth rate?
What is GDP per capita growth rate?
What is the productivity growth rate?
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