Reinforcement, Revision and Extension Worksheets

REVISION MACROECONOMIC VARIABLES

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What is being defined?The value of one unit of a currency in terms of another unit of another currency.

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Exchange rate

TRUE/FALSEReal GDP measures the total volume of goods and services produced by an economy over a year adjusted for inflation.

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FALSEIt measures the total value of final goods and services produced within an economy adjusted for inflation

Which of the following is NOT a formula for caluclating Real GDP?A. GDP/populationB. Current output X base year pricesC. NGDP/ GDP deflator

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A. Measures GDP per capita

What is being described?The flow of funds (or financial capital) from one country to another to earn a short-term profit on interest rate differences and/or anticipated exchange rate shifts.

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Hot money flows

TRUE/FALSE Long-term or direct investment transactions in government bonds and assets will be recorded on the current account.

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Financial / capital account

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EXTENSION SHEET

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