83. Given an exchange rate of 80 yen=$1, what is the U.S dollar price of 1 yen?

Question

83. Given an exchange rate of 80 yen=$1, what is the U.S dollar price of 1 yen? A. $80 B. 80 yen C. $0.0125 D. $1.25 E. $0.125
87. True or false? To arrive at a more accurate measure of real output changes in an economy, nominal GDP figures should be adjusted for inflation.
88. Nominal GDP A. Measures changes in the output of intermediate goods and services B. Measures the real level of output in the economy C. Tends to rise by a smaller amount than real GDP when the general price level increases D. Measures national output on the basis of the current year's prices E. Has been adjusted for changes in the general price level
89. Productive activity in the underground economy A. Loses no problems for the measurement of gross domestic product B. Is fully estimated and included in the national income accounting system C. Consists of unrecorded cash transactions D. Results in an overstatement of actual income and production in the national accounting system E. Does not affect GDP, but it is included in the value added computations


83. Given an exchange rate of 80 yen=$1, what is the U.S dollar price of 1 yen? A. $80 B. 80 yen C. $0.0125 D. $1.25 E. $0.125
87. True or false? To arrive at a more accurate measure of real output changes in an economy, nominal GDP figures should be adjusted for inflation.
88. Nominal GDP A. Measures changes in the output of intermediate goods and services B. Measures the real level of output in the economy C. Tends to rise by a smaller amount than real GDP when the general price level increases D. Measures national output on the basis of the current year's prices E. Has been adjusted for changes in the general price level
89. Productive activity in the underground economy A. Loses no problems for the measurement of gross domestic product B. Is fully estimated and included in the national income accounting system C. Consists of unrecorded cash transactions D. Results in an overstatement of actual income and production in the national accounting system E. Does not affect GDP, but it is included in the value added computations


83. Given an exchange rate of 80 yen=$1, what is the U.S dollar price of 1 yen? A. $80 B. 80 yen C. $0.0125 D. $1.25 E. $0.125
87. True or false? To arrive at a more accurate measure of real output changes in an economy, nominal GDP figures should be adjusted for inflation.
88. Nominal GDP A. Measures changes in the output of intermediate goods and services B. Measures the real level of output in the economy C. Tends to rise by a smaller amount than real GDP when the general price level increases D. Measures national output on the basis of the current year's prices E. Has been adjusted for changes in the general price level
89. Productive activity in the underground economy A. Loses no problems for the measurement of gross domestic product B. Is fully estimated and included in the national income accounting system C. Consists of unrecorded cash transactions D. Results in an overstatement of actual income and production in the national accounting system E. Does not affect GDP, but it is included in the value added computations

Explanation / Answer

83. C. $0.0125

explanation- if 80yen= 1 dollar, then 1yen= 1/80 = $0.0125 dollar.

87. To arrive at a more accurate measure of real output changes in an economy, nominal GDP figures should be adjusted for inflation.- false.

As real GDp price are adjusted but not nominal GDP.

88. . Nominal GDP - D. Measures national output on the basis of the current year's prices.

89. Productive activity in the underground economy: C. consists of unrecorded cash transactions.

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