ECO 192 Spring term 2018 Doc. Dr. 5J.Terregrossa, PhD Final Exam Istanbul Aydin University Increases in the quantities produced of ID Number: exports (X). Name: e) All of the above. Section: Monday, Tuesday, Thursday or Friday Question 4: The value of imports is subtracted from the amount of expenditure in an economy by Instructions: 1) Please type your name and ID households (C), firms (1), and government (G], over number, and circle your registered section-day. a specified period of time, because: 2) Be sure to use only pencil (not pen) for every a) Total expenditure in an economy by item circled on the optik form answer sheet. households (C), firms (1), and government (G) includes expenditure on goods and 3) Be sure to correctly mark the version of the services that are produced in other exam (Soru Grubu) that you have been assigned. countries. (This exam Is version C. So, circle C in the Soru b) Nominal GDP refers only to the value of Grubu column at the top of the optik form.) final goods and services produced within Question 1: Nominal GDP refers to: the nation. c) The value of imports refers to the value of a) The amount (quantities) of final goods and goods and services which are produced in services produced by a nation. other nations and sold in the domestic b) The monetary value of the final goods and country (le. Turkey). services produced by a nation, using d) All of the above. current prices. e) None of the above. c) Only the value of intermediate goods and services. Question 5: In 2017: All of the above. Total expenditure on final goods and e) None of the above. services by households (C) in country Question 2: Nominal GDP is equal to: A = 500 &; of which 100 & is expenditure on final goods and a) Total expenditure on all final goods and services produced in other countries; services produced within the nation over a specified period of time. Total expenditure on final goods and b) Total Income (salaries, wages, profit, rent) services by firms (1) in country A = 800 generated in the production of final goods &; of which 300 & is expenditure on and services produced within the nation final goods and services produced in over a specified period of time. other countries; c) CH+G+X-M, over a specified period of time. d) All of the above. Total expenditure on final goods and e) None of the above. services by government (G) in country A = 800 &; of which 200 6 is Question 3: Increases in Nominal GDP can be expenditure on final goods and caused by: services produced in other countries; a) Increases in the quantities produced and sold of final goods and services produced iv) Total expenditure on final goods and by a nation. services produced in country A and b) Increases in the current prices of the final purchased by citizens from other goods and services produced by a nation. countries (X) = 1,000 & c) Increases in the monetary value of Based on the above information, nominal GDP for exports (X). 2017 is equal to: 1C