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Use the following table to calculate the national income. Expenditures for consumer goods and services $5,565 Exports $740 Government purchases of goods and services $1,265
Use the following table to calculate the national income. Expenditures for consumer goods and services $5,565 Exports $740 Government purchases of goods and services $1,265 Social Security taxes $510 Net investment $325 Indirect business taxes $520 Imports $225 Gross investment $865 Corporate income taxes $185 Personal income taxes $750 Corporate retained earnings $45 Net foreign factor income $30 Government transfer payments to households $690 Net interest payments to households $0 O $6,245 $7,670 O $7,700 $8,210Suppose that for a country, the rate of ination has been constant at 0% for the last 10 years. Which of the following statements is true? 0 Relative prices in this country are not changing, and average prices are not changing. Relative prices in this country may be increasing or decreasing, but average prices are not changing. Relative prices in this country may be increasing or decreasing, and average prices may be increasing or decreasing. Relative prices in this country are not changing, and average prices may be increasing or decreasing. OOO Which of the following is a product market transaction? 0 Purchase of an aircraft to be used by American Airlines. Boba tea purchased by a Baruch College student for breakfast. 0 0 Purchase of our to be used to make bread by Panera Bread (restaurant). 0 UPS hiring drivers to deliver packages. 6% If the nominal interest rate is given as 5%, and the rate of inflation is 1%, what is the real rate of interest? O -4% O 4% O 3%Wch of the following is directly included in the calculation for GDP? The purchase of a residential land to build apartments by a construction company. The purchase of battery by Apple for their products. The purchase of today's lunch from Taco Bell by you. The increase in the value of stock of Apple. 0000
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