2. True or False? When we measure GDP, it's always better to measure aggregate expenditurerather than aggregate production.A. TrueB. False3. What accounts for the difference in real GDP vs. nominal GDP for the same year?A. Month of the year measurement is taken inB. Which government agency reports the numberC. What price level is usedD. Whether exports exceed imports that year or vice versa4. Which U.S. federal agency produces GDP data for the U.S.?A. BEAB. CIAC. FBID. FDA5. Real GDP rose from $3 trillion to $3.1 trillion in one year. What's the GDP growth rate?A. 0.1%B. 3.2%C. 3.3%D. 10%6. In our model of production for studying the GDP, what does lower-case y stand for?A. Productivity parameterB. Per capita GDPC. Marginal GDPD. Per capita capital

Since you have asked multiple question, we will answer first question for you. If you want any…

Answered: 2. True or False? When we measure GDP,…

2. True or False? When we measure GDP, it's always better to measure aggregate expenditure rather than aggregate production. A. True B. False

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Measuring A Nation's Income

Section: Chapter Questions

Problem 6PA

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Question

2. True or False? When we measure GDP, it's always better to measure aggregate expenditure
rather than aggregate production.
A. True
B. False
3. What accounts for the difference in real GDP vs. nominal GDP for the same year?
A. Month of the year measurement is taken in
B. Which government agency reports the number
C. What price level is used
D. Whether exports exceed imports that year or vice versa
4. Which U.S. federal agency produces GDP data for the U.S.?
A. BEA
B. CIA
C. FBI
D. FDA
5. Real GDP rose from $3 trillion to $3.1 trillion in one year. What's the GDP growth rate?
A. 0.1%
B. 3.2%
C. 3.3%
D. 10%
6. In our model of production for studying the GDP, what does lower-case y stand for?
A. Productivity parameter
B. Per capita GDP
C. Marginal GDP
D. Per capita capital

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