The GDP deflator is a price index that includes the following components of GDP:
A. Consumption.
B. Consumption plus investment but not exports.
C. Consumption, investment plus exports minus imports.
D. Consumption, investment, government plus exports minus imports.
The GDP deflator is a price index that includes the following components of GDP:
A. Consumption.
B. Consumption plus investment but not exports.
C. Consumption, investment plus exports minus imports.
D. Consumption, investment, government plus exports minus imports.
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Related questions
6. Using the expenditure approach, calculate GDP using the following data.
|
Item |
Amount in dollars (billions) |
|
Consumption |
7,600 |
|
Consumption of Durable Goods |
1,600 |
|
Consumption of Non Durable Goods |
2,800 |
|
Consumption of Services |
3,200 |
|
Investment |
2,750 |
|
Fixed Investment |
1,000 |
|
Government purchases of Goods & Services |
1,675 |
|
Government Transfer Payments |
450 |
|
Exports |
750 |
|
Imports |
1,600 |
|
GDP Equals |
|
7. What is the importance of measuring per capita GDP?
8. What is the underground economy? How does it affect GDP calculations? Provide three examples of underground economy transactions
