Question

which of the following is not a question addressed by macroeconomists

H e p in some years and contract in Wes! 2. Gross domestic product measures a. income and expenditures. b. income but not expenditures. c. expenditures but not income. d. neither income nor expenditures. 3. Because every transaction has a buyer and a seller, a. GDP is more closely associated with an economy's income than it is with an economy's expenditure. b. every transaction contributes equally to an economy's income and to its expenditure. c. the number of firms must be equal to the number of households in a simple circular-flow diagram. d. firms' profits are necessarily zero in a simple circular-flow diagram. 4. GDP includes the value of all a final goods and services produced within a country using primarily market prices to measure the value of goods and services. b. final goods and services produced within a country using primarily a survey of consumers to measure the value of goods and services. e. goods and services produced within a country using primarily market prices to measure the value of goods and services d. goods and services produced within a country using primarily a survey of consumers to measure the value of goods and services. 5. GDP excludes most items that are produced and sold illegally and most items that are produced and consumed at home because a. the quality of these items is not high enough to contribute value to GDP, b. measuring them is so difficult. c. the government wants to discourage the production and consumption of these items d. these items are not reported on income tax forms. Page 1 Cam Leaming Testing Powered by Copiero

Answer 1

Ques 3. Is not concerned with macroeconomics as it is talking of an individual buyer and a seller. Also the answer to the same holds at b.) Every transaction contibutes equally to an economy's income and expenditure.