If real GDP increases at 5% and inflation rate increases at 8%

the volume of goods and services produced has increased

Human Development Index includes

Life expectancy, literacy rates and PPP-adjusted real GNI per capita

Standard of living comprises of

Quantity of g/s consumed by the average person and the qualitative aspects

Which of the following is a macroeconomic issue?

the effect of increasing money supply on inflation

Full employment is achieved when there is

only structural and frictional unemployment

Which of the statement is true?

GDP is a production concept but SOL is a consumption concept

Gross domestic product refers to

money value of all final g/s produced within a country in a year

Which accounts belong to the balance of payments?

Current account and capital and financial account

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KEI and SOL

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Answers

1
If real GDP increases at 5% and inflation rate increases at 8%
Nominal GDP has fallen
the volume of goods and services produced has increased
Real GDP per capita has increased
the volume of goods and services produced has fallen
2
Human Development Index includes
Life expectancy, literacy rates and PPP-adjusted real GNI per capita
PPP-adjusted real GNI per capita, gini coefficient, pollution rates
Pollution rates, literacy rates and PPP-adjusted real GNI per capita
Life expectancy, literacy rates and real GNI per capita
3
Standard of living comprises of
Quantity of g/s consumed by the average person only
Quantity of g/s consumed by the average person and the qualitative aspects
Material SOL
Quantity of g/s produced by the average person and the qualitative aspects
4
Which of the following is a macroeconomic issue?
how a rise in the price of sugar affects the price of soda
what determines the amount a firm will produce
the effect of increasing money supply on inflation
the cause of a decline in the price of peanut butter
5
Full employment is achieved when there is
only structural and cyclical unemployment
only structural unemployment
cyclical unemployment
only structural and frictional unemployment
6
The best GDP indicator to compare a resident's standard of living over time is
Real GDP
Real GDP per capita
Nominal GDP per capita
Nominal GDP
7
Which of the statement is true?
Both GDP and SOL are production concepts
GDP is a consumption concept but SOL is a production concept
Both GDP and SOL are consumption concepts
GDP is a production concept but SOL is a consumption concept
8
The best GDP indicator to compare standard of living between countries is
GDP per capita converted to USD using market exchange rates
Real GDP per capita in each country's own currency
Real GDP per capita
PPP-adjusted GDP per capita
9
Gross domestic product refers to
money value of all final g/s consumed within a country in a year
value of all final g/s produced by nationally owned factor inputs in a year
none of the above
money value of all final g/s produced within a country in a year
10
Which accounts belong to the balance of payments?
Current account and capital and financial account
Capital and financial account only
POSB savings account
Current account only

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