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Sum of final consumption expenditure

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Reference no: EM133077571

Question 1. Fill up the blanks.

The report does not provide information on GDP by industry. One of the reasons is that GDP by industry and GDP expenditure-based are not directly comparable, because GDP by industry is calculated at______ prices and GDP expenditure-based is calculated at_____ prices.

Question 2. What is the final domestic demand? There is only one correct option.

A. It is the sum of final consumption expenditure, gross fixed capital formation and imports. This aggregate reveals the strength of the total spending in the economy.

B. It is the sum of final consumption expenditure and gross fixed capital formation. This aggregate reveals the strength of domestic spending in the economy.

C. It is the sum of final consumption expenditure, gross fixed capital formation and exports minus imports. This aggregate reveals the strength of domestic spending in the economy.

D. It is the sum of final consumption expenditure, gross fixed capital formation and exports. This aggregate reveals the strength of the total spending in the economy.

Question 3. Which of the following statements is wrong? More than one option might be right. Choose all the right answers.

A. The capital account covers capital transfers and transactions in non-produced, non-financial assets.

B. The balance of international payments covers all economic transactions between Canadian residents and non-residents in three accounts: the current account, the capital account and the financial account.

C. The financial account covers capital transfers and transactions in non-produced, non-financial assets.

D. The current account covers transactions in goods, services, compensation of employees, investment income and secondary income (current transfers).

Reference no: EM133077571

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