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AP Macro Real VS Nominal GDP Flashcards | StudBud
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AP Macro Real VS Nominal GDP
AP Macro Real VS Nominal GDP
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Questions
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Answers
1
Real GDP accounts for inflation
True
False
2
What is kacpers middle name
Matt
Tyrone
Phillip
James
3
What is the formula for the GDP Deflator?
Real GDP / Nominal GDP
(Real GDP / Nominal GDP) x 100
Nominal GDP / Real GDP
(Nominal GDP / Real GDP) x 100
4
The government spends 10 million dollars to fix the garden state parkway, will this contribute to the national GDP?
False
True
5
A man buys a used car for $5,000, is he contributing to the national GDP?
False
True
6
A women invests $100,000 into the stock market, is she contributing to the national GDP?
True
False
7
What song was played at the end of our environmental presentation
The natinal anthem
Africa
Gucci Gang
One Day
8
If Jerry (from the US) buys a new exhaust system for his C63 AMG from Germany is he adding to the national GDP?
so
yes
maybe
no
9
If a musician buys 1000 bottles of baby oil at $10 per bottle, how much is he contributing to the nominal GDP?
$10
$10,000
$1,000
$1,000,000
10
What is the formula for real GDP?
Real GDP = GDP Deflator - Nominal GDP
Real GDP = Nominal GDP / GDP Deflator
Real GDP = GDP Deflator / Nominal GDP
Real GDP = Nominal GDP x GDP Deflator
11
Free Points (guess the correct answer)
This might be the answer
This is not the answer
This is the answer
LeBron
12
If a musician contributes $10,000 to the Nominal GDP with a GDP Deflator of 2% what is he contributing to the real GDP?
1,204.34
9,546.14
1,234.09
9,803.92
13
Formula for Nominal GDP
Consumption + Investments + Gov Spending + (Exports-Imports)
None of the above
Consumption + Investments - Gov Spending - (Exports-Imports)
Consumption + Investments + Gov Spending - (Exports + Imports)
14
Given:
Nominal GDP: 1,500 billion / Real GDP: 800 billion. Find the GDP Deflator
187.5
189.5
112.5
155.5
