There are three states of the system. Find a state with efficient production
Last year, the authorities adopted a number of laws that will directly or indirectly affect the construction and purchase of housing.
Some laws have already come into force, others are yet to take effect this year.
Real estate market analysts believe that, taken together, all these legislative innovations cannot but affect the most important aspect for the end consumer – housing prices.
Vestum.RU tried to understand the diversity of opinions and create a clear picture of what is happening with prices in the real estate market today and what awaits them in the future.
Today the situation is such that the purchasing power of the population has decreased, since people's incomes are not increasing, so they are forced to save. This also applies to purchasing a home. People choose cheaper real estate, look for offers with the lowest price, fortunately, the supply market is wide and there is plenty to choose from. In addition, the economic situation in the country has led to people no longer considering residential real estate as an investment option. Maintaining housing is becoming more and more burdensome, including rising taxes and utility bills.
Experts believe that with the abolition of shared-equity construction, large investments in housing will disappear altogether. If previously it was possible to buy an apartment cheaply at the stage initial stage construction, and then, when the house is built, sell it at many times more expensive, then this opportunity will go away when switching to project financing.
The only option left was to buy ready-made apartments without finishing. Many large businessmen buy such apartments, renovate them, furnish them and resell them. But this will soon come to an end, because the Ministry of Construction is preparing a bill that is designed to ban the sale of housing without finishing.
Mortgages are gaining momentum
It is natural that there is an increase in home purchases. The reason is lower mortgage rates. According to statistics for last year, 2017, the number of people who took out mortgage loans increased by 25%. The authorities are precisely betting on mortgages; according to calculations, by 2030, 60% of the population will be able to get a mortgage. So far this is where everything is heading. Banks cut rates, reduce down payment, the state has launched a program for families with two or more children, under which you can take out a mortgage at 6%. However, not all experts think this is good.
Some analysts believe that overly affordable mortgages will lead to rising real estate prices. Plus, not all citizens pay their mortgage regularly. This is the economic situation: today you work and can take out a mortgage, tomorrow you are fired, and there is nothing to pay. Experts believe that in an unstable economic situation it is dangerous to give out loans and recall the mortgage crisis in the United States in 2007.
By the way, banks are already concerned about this problem. Already at the end of last year, experts noted, banks began to approve less frequently mortgage loans, arguing this precisely by the growing number of non-payment of loans. Long-term delays in payments over the past year increased by more than 20 percent.
In addition, according to Sberbank forecasts, the demand for mortgage loans will only grow this year. Moreover, the situation in the sphere of state policy on this issue is favorable. So it became known that, for example, they want to cancel the down payment altogether. True, only young families will have such an opportunity. Such a project was invented in the Youth Parliament, and the creators intend to send it to the State Duma, the Russian government and the regions.
Now, in order to buy housing with a mortgage, young families must make 30% of the cost of the apartment as a down payment. Not everyone can save that amount. Therefore, according to parliament, this contribution can be abolished by distributing it between payments or raising the rate.
The President of Russia, as we said above, approved the program for families with children. Plus, he instructed officials to develop a strategy that will allow half of the population to buy housing with a mortgage by 2025.
Against this background, the Bank of Russia, summing up the results of last year, reported that mortgages are breaking all records: rates have reached a minimum, and the amount of loans issued, on the contrary, has increased noticeably. Therefore, it is logical to assume that banks will tighten requirements for borrowers.
1. What is economic rent
transfer income
the excess of income over its opportunity cost
2. What is gross domestic product (GDP)
the sum of all goods and services produced
the sum of all goods and services sold
the sum of all finished goods and services
market value all final goods and services
3. Nominal GNP is the value of goods and services measured
at current prices
in real prices
in prices of the base period
in prices of the previous period
4. Which of the following income or expenses is not taken into account when calculating GNP for a given year
growth of company reserves
servants' wages
5. To determine the amount of national income it is necessary
subtract the amount of indirect taxes from GNP
reduce the amount of GDP by the amount of depreciation of fixed assets used
subtract from the GDP the amount of depreciation charges for a given period, the amount of indirect taxes and the amount of government subsidies
add the amount of government social transfer payments to GDP
6. The source of personal income is
property income
income from rental housing
transfer payments
wages, property income, rental payments, transfer payments
7. The size of GDP depends on
quantity of goods produced
the amount of resources used in the production of goods
quantities of goods produced and their prices
price dynamics
8. GDP increased from 500 billion rubles. up to 600 billion rubles The GDP deflator increased from 125 to 150%. Real GDP value
won't change
will increase
will decrease
cannot be calculated based on these data
9. To move from gross national product (GNP) to net national product (NPP), it is necessary
add net investment expenses
subtract net investment from GNP
add depreciation to GNP
subtract depreciation of fixed assets
10. Of the following income or expenses are not taken into account when calculating the GNP of a given year
rent for an apartment
buying car company bonds
growth of company reserves
servants' wages
11. Personal income is
cost of goods and services produced per year
income received by households during a given year
all income available for personal expenses after taxes
GDP minus depreciation
12. To calculate the contribution of a company to the created GDP, calculated by the production method, it is necessary to subtract from the market value of products sold
all indirect taxes
retained earnings
depreciation
volume of materials purchased from other companies
13. The following value is not included in GDP calculated based on the amount of expenses
investments
net exports
public procurement of goods and services
salary
14. An increase in government spending increases real GDP only if
government spending is directed towards the purchase of goods and services, rather than remuneration of officials
government spending is accompanied by an increase in the money supply
government spending does not crowd out an equal amount of spending in the non-state sector
government spending is financed by issuing government loans
15. GNP calculated by the flow of expenses and GNP calculated by the flow of income are related as follows
GNP by income is equal to GNP by expenses
GNP by income is greater than GNP by expenditure in conditions of economic growth
the ratio between GNP by income and GNP by expenditure depends on the inflation rate for the period under review
all answers are correct
1. The circular flow model illustrates
process of market price formation
interaction between the Central Bank, commercial banks, bank depositors and those who borrow money from banks
relationships between the main economic entities
interaction of economic growth factors
2. From the definitions of “gross domestic product” proposed below, choose the best one. Gross domestic product is
the market value of all final goods and services produced within a country during a calendar year
the cost of all final goods and services purchased at market prices within the country during a calendar year
the market value of final goods and services produced by a country's residents during a calendar year
market value of a country during a calendar year
3. The income received by the owners of factors of production totals
gross national product
gross domestic product
disposable income
national income
4. A family’s purchase of a new house outside the city will affect the amount
net exports
government spending
investment costs
expenses for the purchase of consumer durables
5. Indicate which of the following indicators is equal to the value obtained by adding the net national product, depreciation charges and indirect taxes:
gross domestic product
gross national product
added value
net national income
6. The group of indicators characterizing the economic security of the country includes
GNP, GDP, NNP, GNI
service life of fixed capital, resource potential, scientific and technical potential, share of investment in GDP, level of state budget deficit
rate of capital accumulation in the industry, industry rate of profit, economic growth rate
the share of external public debt in GDP, the state of gold and foreign exchange reserves, the share of imports in domestic consumption, the share of external borrowings in covering the budget deficit
7. National wealth is
natural resources and cultural values
natural resources and human resources
means of production, accumulated property, natural resources, material and cultural values
8. Personal disposable income is
accrued wages
total income received (wages and other income)
real income
total income received minus tax and non-tax mandatory payments
9. Of the listed statements, the following is true
the AD curve has a negative slope
when the state tightens conservation requirements environment, this leads to an increase in production costs per unit of output and shifts the aggregate supply curve to the right
growth in real output cannot be accompanied by rising prices
10. In a situation where the potential volume of GNP has not yet been reached, not all resources have been used, demand growth leads
to increase the supply of goods
to rising prices with constant supply
11. If the price level rises and production falls, this is caused
shift of the aggregate demand curve to the right
shift of the aggregate demand curve to the left
shift of the aggregate supply curve to the left
shift of the aggregate supply curve to the right
12. Keynesian segment on the aggregate supply curve
has a positive slope
has a negative slope
represented by a vertical line
represented by a horizontal line
13. If prices rise, then:
holders of fixed-price securities increase their expenses
the demand for money and the level of interest rate
interest rate sensitive expenses increase
holders of fixed-price securities have increased purchasing power
14. When the economy is in a depression, then in the short run an increase in AD will lead to
to higher prices, but will not affect GDP dynamics in real terms
to an increase in GDP in real terms, but will not affect the price level
to an increase in both the price level and the volume of GDP in real terms
to higher prices and a reduction in GDP in real terms
15. If the prices of imported goods have increased, it is most likely due to
reduction in aggregate supply
growth in aggregate supply
decline in aggregate demand
21. To calculate a company’s contribution to the created GDP, calculated by the production method, it is necessary to subtract from the market value of products sold:
a) all indirect taxes;
b) retained earnings;
c) depreciation;
d) the volume of purchases of materials from other companies.
22. If the volume of real GDP decreased by 6%, and the population in the same year decreased by 3%, then:
a) real GDP per capita has decreased;
b) real GDP per capita increased, but nominal GDP decreased;
c) nominal GDP has not changed;
d) prices fell by 3%.
23. The following value is not included in GDP calculated based on the amount of expenses:
a) investments;
b) net exports;
c) government procurement of goods and services;
d) salary.
24. Value added is defined as:
a) amount wages and interest on the loan;
b) gross revenue minus current material costs plus deductions for depreciation;
c) the amount of wages and depreciation;
d) the sum of profits and wages.
25. An increase in government spending increases real GDP only if:
a) government spending is directed towards the purchase of goods and services, and not the payment of officials;
b) government spending is accompanied by an increase in the money supply;
c) government spending does not crowd out an equal amount of spending in the non-state sector;
d) government spending is financed by issuing government loans.
26. If consumption expenditure is 60, gross investment is 20, government purchases of goods and services is 30, imports are 20, exports are 10, depreciation is 10, then the gross national product and net national product are respectively:
b) 100 and 90;
27. GNP calculated by the flow of expenses and GNP calculated by the flow of income are related as follows:
a) GNP in terms of income is equal to GNP in terms of expenses;
b) GNP in terms of income is greater than GNP in terms of expenses in conditions of economic growth;
c) the ratio between GNP by income and GNP by expenses depends on the inflation rate for the period under review;
d) all answers are correct.
28. The accuracy of the macroeconomic model increases:
a) when it approaches a real object;
b) when the model becomes more complex;
c) when reducing the number of restrictions introduced into the model;
d) with the correct identification of the main elements of the system and their relationships, expressing the economic process (phenomenon) under study
29. The circular flow model illustrates:
a) the process of formation of market prices;
b) interaction between the Central Bank, commercial banks, bank depositors and those who borrow money from banks;
c) relationships between the main economic entities;
d) interaction of economic growth factors.
30. If the general level of prices in the country increases significantly over the year, and the production of goods and services does not change, then, other things being equal:
a) real gross domestic product (GDP) will increase;
b) nominal GDP will decrease;
c) nominal GDP will increase;
d) the real standard of living in the country will increase.
31. From the definitions of “gross domestic product” proposed below, choose the best one. Gross domestic product is:
a) the market value of all final goods and services produced in the country during the calendar year;
b) the cost of all final goods and services purchased at market prices in the country during the calendar year;
c) the market value of final goods and services produced by residents of the country during the calendar year;
d) the market value of the country during the calendar year.
32. Organization by a British company of the production of sneakers in Russia:
a) will increase UK GNP;
b) will increase UK GDP;
c) will increase both;
d) will not increase either one or the other.
33. The income received by the owners of production factors totals...
a) gross national product;
b) gross domestic product;
c) disposable income;
d) national income.
34. If real GNP is equal to potential, then, in accordance with the Phillips curve, which takes into account expected inflation, it can be argued that the actual inflation rate is zero?
b) no.
35. A family’s purchase of a new house outside the city will affect the value of:
a) net exports;
b) government spending;
c) investment expenses;
d) expenses for the purchase of durable consumer goods.
