FDNECON 02 · Measuring Output and Equilibrium
Conventions
Original source-based practice for FDNECON Quiz #2. Questions are independent: use only each item’s complete givens. Amounts and units are stated in every numerical case. Numeric written answers omit currency symbols and units; rates are entered as numerical percentages (5 means 5%). Round only the final result to two decimals unless instructed otherwise. The course money-market diagram treats supply as vertical and policy-determined, with downward-sloping demand and other determinants fixed. Numerical money-demand equations, finite/infinite spending chains, gap percentages and multiplier/tax formulas are fully stated hypothetical practice extensions, not claims about measured Philippine outcomes or guaranteed policy effects. Expenditure and income approaches remain separate; foreign-income boundary inconsistencies in the source are explained in the reviewer. No question requires an unprovided graphic or another item’s answer.
Questions
01Complete expenditure GDP in ₱ billion.
| Item | Value |
|---|---|
| C | 900 |
| I | 240 |
| G | 340 |
| Exports | 180 |
| Imports | 230 |
| GDP | ? |
02Enter net exports in ₱ billion, retaining its sign.
Problem
Exports are ₱145 billion; imports are ₱210 billion. Enter exports minus imports.
03Enter the value added by the final firm, in pesos.
| Item | Value |
|---|---|
| Final firm sales (₱) | 760 |
| Purchased intermediate product (₱) | 480 |
| Final firm value added (₱) | ? |
04Enter total value added across the chain, in pesos.
Problem
A domestic chain sells first-stage output for ₱200 (zero purchased intermediate inputs), second-stage output for ₱450 using only that first-stage product, and final output for ₱900 using only the second-stage product. All output is current-period; no imports.
05Enter current real GDP at base prices, in pesos.
Problem
Current production is 200 meals and 100 notebooks. Base prices are ₱80 per meal and ₱50 per notebook. Current prices are ₱90 and ₱60. Use the fixed-price classroom method.
06Enter current nominal GDP, in pesos.
Problem
Current production is 200 meals and 100 notebooks. Current prices are ₱90 and ₱60; base prices are ₱80 and ₱50.
07Complete the income-approach total in ₱ billion.
Problem
Use the lecture’s six-term worked income model. Net foreign income, subsidies and all other adjustments are zero.
| Item | Value |
|---|---|
| Wages | 600 |
| Rent | 80 |
| Interest | 50 |
| Profits | 200 |
| Depreciation | 70 |
| Indirect business taxes | 120 |
| Domestic income-approach total | ? |
08Enter the corresponding national aggregate in ₱ billion.
Problem
GDP=₱1,120bn and net factor/primary income from abroad=+₱45bn. Use the given standard relation GNI/GNP=GDP+net income from abroad.
09Identify the expenditure component: C, I, G or NX.
Problem
A household buys a newly constructed house produced domestically this year. Enter the expenditure-identity component code.
10Enter the real GDP growth rate as a percentage.
Problem
Base-year real GDP=₱25,000. Current real GDP at the same prices=₱27,000; current nominal GDP=₱30,000. Enter real growth.