6. Disposable income in a particular periodis _______. total incomeearned income

Question

6. Disposable income in a particular periodis _______.
      total incomeearned
       income earned plus government transferpayments
       income earned plus government transfer payments lesstaxes
       income earned plus government transfer payments lesstaxes and savings


7. An example of investment spending would be______.
       purchase of a bond
       purchase of a loaf of bread
       purchase of a new productive machine
       all of the above


8. If both aggregate output and the aggregateprice level increase ______.
       real GDP will increase faster than nominal GDP
       nominal GDP will increase faster than real GDP
       it makes no difference to real or nominal GDP
       either A or B may be correct


9. The official unemployment rate ignores_______.
       people with professional jobs
       people who work on commission
       discouraged workers who have given up looking for ajob
       all of the above


10. Many economists believe that the CPIoverstates inflation because ______.
       innovation forces consumers to pay more for most goodsand services
       the Bureau of Labor Statistics collects data on theprices of only a few goods and services
       the CPI market basket doesn't reflect the fact thatconsumers shift consumption away from more expensive goods
       people use it to bargain for wage increases

Explanation / Answer

6. Disposable income in a particular periodis _______.       total incomeearned        income earned plus government transferpayments        income earned plusgovernment transfer payments less taxes        income earned plus government transfer payments lesstaxes and savings 7. An example of investment spending would be______.        purchase of a bond        purchase of a loaf of bread        purchase of a new productivemachine        all of the above 8. If both aggregate output and the aggregateprice level increase ______.        real GDP will increase faster than nominal GDP        nominal GDP will increasefaster than real GDP        it makes no difference to real or nominal GDP        either A or B may be correct 9. The official unemployment rate ignores_______.        people with professional jobs        people who work on commission        discouraged workers who havegiven up looking for a job        all of the above 10. Many economists believe that the CPIoverstates inflation because ______.        innovation forces consumers to pay more for most goodsand services        the Bureau of Labor Statistics collects data on theprices of only a few goods and services        the CPI market basketdoesn't reflect the fact that consumers shift consumption away frommore expensive goods        people use it to bargain for wage increases

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