Reading 20: Measuring Economic Activity - LOS c ～ Q1-3

答案和详解如下：

1.Which of the following statements regarding the reporting of Gross Domestic Product (GDP) components is TRUE? The three components of GDP are:

A)   collected and reported using the same methods.

B)   collected in current prices and reported in constant prices.

C)   collected in constant prices and reported in current prices.

D)   collected and reported using three different methods.

The correct answer was D) 

Output data is collected in both current and constant prices, while expenditure and income data is collected in current prices. All are restated in constant prices using an index or deflator.

2.Which is the least accurate statement regarding the Gross Domestic Product (GDP) deflator?

A)   The GDP deflator that is calculated from the expenditure component of GDP is also known as the implicit price deflator.

B)   Small errors in the GDP deflator are magnified into large errors when calculating a constant price series.

C)   The GDP deflator is consistently an accurate predictor of general inflationary trends even though the composition of GDP may change over time.

D)   The GDP deflator is an not an accurate predictor in times of swiftly changing prices.

The correct answer was C)

The GDP deflator is directly affected by changes in the composition of GDP because it is derived from the expenditure component of GDP.

3.Calculate the nominal Gross Domestic Product (GDP) for a country that has a 6% rate of inflation and a 2.5% real GDP.

A)   3.5%.

B)   2.4%.

C)   15.0%.

D)   8.5%.

The correct answer was D)

A 2.5% real GDP, adjusted for 6% inflation indicates an 8.5% nominal GDP.