9.Gross domestic product that is based on existing prices is called:
a.nominal GDP.
b.current GDP.
c.money GDP.
d.all of the above.
Exhibit 11-3 GDP data (billions of dollars)
Personal consumption expenditures$5,207
Interest425
Corporate profits735
Government spending1,406
Depreciation830
Rental income146
Gross private domestic investment1,116
Compensation of employees4,426
Exports870
Imports965
Indirect business taxes553
Proprietors' income520
Personal taxes886
Social Security taxes432
Transfer payments 376
____10.In Exhibit 11-3, gross domestic product (GDP) is:
a.$6,807 billion.
b.$7,082 billion.
c.$7,634 billion.
d.$7,637 billion.
e.$7,730 billion.
____11.Economic indicators, like unemployment claims and the average workweek, which change before real GDP changes, are called:
a.leading.
b.lagging.
c.coincident.
d.structural.
a.nominal GDP.
b.current GDP.
c.money GDP.
d.all of the above.
Exhibit 11-3 GDP data (billions of dollars)
Personal consumption expenditures$5,207
Interest425
Corporate profits735
Government spending1,406
Depreciation830
Rental income146
Gross private domestic investment1,116
Compensation of employees4,426
Exports870
Imports965
Indirect business taxes553
Proprietors' income520
Personal taxes886
Social Security taxes432
Transfer payments 376
____10.In Exhibit 11-3, gross domestic product (GDP) is:
a.$6,807 billion.
b.$7,082 billion.
c.$7,634 billion.
d.$7,637 billion.
e.$7,730 billion.
____11.Economic indicators, like unemployment claims and the average workweek, which change before real GDP changes, are called:
a.leading.
b.lagging.
c.coincident.
d.structural.