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M4_problem_sets_2.xlsxModule 4 Problem Sets
| Principles of Economics | |||||
| Name: | |||||
| Date: |
Question #1
| Net Exports = _________________ - _________________________. |
| Answers: |
Question #2
| The three members of NAFTA are _______________, __________________, and__________________________. |
| Answers: |
Question #3
| Our exports of goods and services are about ____________ percent of our GDP in 2016. |
| Answer: |
Question #4
| The only trading bloc that has eliminated all its international tariffs is ___________________________. |
| Answer: |
Question #5
| The main concern of the labor union members who were protesting against the WTO, the IMF, and the World Bank was ___________________. |
| Answer: |
Question #6
| ______________________________ measures total production in one year. |
| Answer: |
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. |
| Answer: |
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. |
| Answer: |
Question #15
| GDP includes only payments for ____________________________________. |
| Answer: |
