Module 4 Problem Sets: Principles of Economics

Module 4 Problem Sets

Principles of Economics

Name:

Date:

Question #1

Net Exports = _________________ – _________________________.

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Question #2

The three members of NAFTA are _______________, __________________, and__________________________.

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Question #3

Our exports of goods and services are about ____________ percent of our GDP in 2016.

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Question #4

The only trading bloc that has eliminated all its international tariffs is ___________________________.

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Question #5

The main concern of the labor union members who were protesting against the WTO, the IMF, and the World Bank was ___________________.

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Question #6

______________________________ measures total production in one year.

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Question #7

Per capita real GDP is found by dividing _______________________ by ______________________.

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Question #8

Given the following information, calculate Net Domestic Product (NDP): GDP = $5 trillion and Depreciation = $500 billion.

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Question #9

If depreciation is $400 billion and NDP is $6 trillion, how much is GDP?

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Question #10

Find per capita GDP when population is 100 million and GDP is $2 trillion.

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Question #11

Find per capita GDP when GDP is $1.5 trillion and population is 300 million.

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Question #12

If real GDP goes up by 3.7-percent and the GDP deflator goes up by 1.6-percent, find the percentage change in GDP.

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Question #13

If consumption spending is $3 trillion, investment is $800 billion, government spending is $1 trillion, imports are $1.2 trillion, and exports are $900 billion, how much is GDP?

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Question #14

Over time, per capita real GDP comparisons become _____________valid.

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Question #15

GDP includes only payments for ____________________________________.

Answer:

Module 4 Problem Sets: Principles of Economics