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Assignment 6 (Ch. 9, 10 & 11, LS 23, 24, & 25)
Fichas del conjunto (27)
- 1There is a trade-off between the amount of consumption that people can enjoy today and the amount of consumption that they can enjoy in the future becauseto increase consumption in the future households must save, thus providing funds for investment.
- 2Typically, a higher saving rate is associated withhigher investment rates and higher rates of growth.
- 3Banks and other institutionshelp allocate resources to the most productive investments.
- 4Investment as defined by economists differs from investment as defined by the general public in thateconomic investment refers to the purchase of machinery, whereas financial investment refers to the purchase of financial assets.
- 5economic investmentpurchase of machinery
- 6financial investmentpurchase of financial assets
- 7running shoes (intermediate or final)final goods
- 8cotton fibers (intermediate or final)intermediate
- 9Watches (intermediate or final)final
- 10textbooks (intermediate or final)final good
- 11coal (intermediate or final)intermediate
- 12sunscreen lotion (intermediate or final)(intermediate or final)
- 13lumber (intermediate or final)intermediate
- 14Economic output is equal to economic income becausethe value of everything that is produced is also the value of everything sold.
- 15are clothes consumer durable goods?no
- 16a table. durable or nondurable?durable
- 17Changes in inventories are included as part of investment spending because anything produced by a business that hasnot been sold during the accounting period is something in which the business has invested.
- 18Net exports are a country's exports of goodsand services less its imports of goods and services.
- 19Nominal GDP isthe market or money value of all final goods and services produced by the economy in a given year, whereas real GDP is adjusted for inflation.
- 20The GDP price index isa measure of the price of a specified collection of goods and services compared to the price of a highly similar collection of goods and services in a reference year.
- 21Personal consumption expendituresadd up the final price of the intermediates or the final price at which it is sold
- 22a. Technological advance, which to date has played a relatively small role in U.S. economic growth, is destined to play a more important role in the future. t or ffalse
- 23Many public capital goods are complementary to private capital goods t or fTrue
- 24c. Immigration has slowed economic growth in the United States. t or ffalse
- 25The benefits of economic growth, particularly as measured by real GDP per capita, includehigher living standards for the vast majority of people.
- 26Real GDP per capita of the United States isten times greater than that in China
- 27What does this completed table say about the ability to grow a country's per capita income by simply increasing labor and capital?Increases to K and L can steadily increase output, but even when both double output per capita does not change.
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- Fichas sobre Assignment 6 (Ch. 9, 10 & 11, LS 23, 24, & 25), creado por casedlynch el 30/04/2014.
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