The measurement of GDP includes A) nonmarket goods such as homemaking and child-rearing. B) the benefits...
- The measurement of GDP includes
A) nonmarket goods such as homemaking and child-rearing.
B) the benefits of clean air and water.
C) estimated values of activity in the underground economy.
D) purchases and sales of goods produced in previous periods.
Homework Answers
Ans is C
GDP is the market value of final goods and services produced in a domestic territory in a given period of time. It includes the value of economic activity in the economy
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The measurement of GDP includes
A) nonmarket goods such as homemaking
and child-rearing.
B) the benefits...
Which of the following is NOT true about gross domestic product (GDP)? a. It includes only...
Which of the following is NOT true about gross domestic product (GDP)? a. It includes only final goods and services. b. The values are measured in current dollars c. Intermediate goods and services are excluded to prevent double counting. d. It includes the value of transfer payments. The gross domestic product (GDP) excludes: a. the value of intermediate goods produced. b. the spending by government on new roads and bridges. c. household spending on goods and services. d. the increase...
Which of the following is TRUE in the calculation of GDP? Select one: @ д. GDP...
Which of the following is TRUE in the calculation of GDP? Select one: @ д. GDP is positively adjusted to include production in the underground economy. o b. GDP is negatively adjusted to account for environmental damage caused by businesses o c. GDP does not include goods and services produced privately inside the home. O d. GDP includes a positive adjustment for leisure activities, even if no purchase is required
The government purchases component of GDP includes: Select one: a. purchases of final goods and services....
The government purchases component of GDP includes: Select one: a. purchases of final goods and services. b. interest payments on government debt. c. transfer payments. d. payments made to social security recipients.
QUESTION 8 The largest component of GDP is: A. consumption expenditure. B. gross private domestic investment...
QUESTION 8 The largest component of GDP is: A. consumption expenditure. B. gross private domestic investment C. government spending. D. net exports. QUESTIONS The sum of all income, including wages, salaries and benefits, profits, rental income, and interest, is called: A. labor income B. gross domestic income. C. national income. D. pretax income. QUESTION 10 A business cycle is: A. the periodic fluctuation of economic activity. B. the engine of economic growth. C. a period lasting about 50 years. D....
I 1) Gross Domestic Product (GDP) is A) the total wholesale value of all final goods...
I 1) Gross Domestic Product (GDP) is A) the total wholesale value of all final goods and services produced by factors of production owned by citizens of a nation B) the total market value of all services produced by factors of production located within a nation's borders. C) the total market value of all goods produced within a nation's borders D) the total market value of all final goods and services produced by factors of production located within a nation's...
4) Gross Domestic Product (GDP) is defined as the market value of: A) all goods and...
4) Gross Domestic Product (GDP) is defined as the market value of: A) all goods and services sold during the year by domestic and foreign producers. B) all final consumer goods produced during the year by domestic and foreign suppliers. C) all intermediate goods produced during the year by domestic and foreign suppliers. D) all final goods and services produced within the boundaries of an economy during the year by domestic and foreign-supplied resources.
Residential investment includes spending by firms on office buildings. Select one: O True O False The...
Residential investment includes spending by firms on office buildings. Select one: O True O False The GDP deflator is a measure of the Select one: O a. average level of prices of intermediate goods and services in the economy. O b. average level of prices of final goods and services in the economy. O c. total production of the economy unadjusted for inflation. O d.) total production of the economy adjusted for inflation. To examine how the total production of...
Which of the following is excluded from calculations of GDP? . Select one: O a. Goods...
Which of the following is excluded from calculations of GDP? . Select one: O a. Goods that bring little value to society. O b. Income received by managers of corporations. O c. Used items such as cars, and purchases on E-Bay. O d. Items that are exported for sale overseas. Question 29 Not yet answered Points out of 1.00 P Flag question Which of the following is government spending on goods and services? Select one: O a. Medicare benefits. O...
2)GDP per capita: a)is an average income per person in an economy. b)tells us about how...
2)GDP per capita: a)is an average income per person in an economy. b)tells us about how the output is allocated in an economy. c)tells us about what you can buy with a given amount of money in that country. d)All of these statements are true. 10) Inventory is the stock of goods that a company: Multiple Choice a)produces now but has contractually already sold it. b)produces this year, but keeps to sell them next year. c)produced last year, but had...
(49)Which of the following statements is true? GNP: (a)Measures the total output of final goods and...
(49)Which of the following statements is true? GNP: (a)Measures the total output of final goods and services within a country’s economy in a year (b)Includes only goods and services produced by the citizens of a country (c)Includes intermediate inputs (d)All of the above (50)Which of the following statements is false? The monetary value of the output of $20 billion worth of cars by the Honda Corporation in India’s economy would be counted in: (a)Japan’s GNP (b)India’s GDP (c)America’s GNP (d)All...
Which of the following is TRUE in the calculation of GDP? Select one: @ д. GDP is positively adjusted to include production in the underground economy. o b. GDP is negatively adjusted to account for environmental damage caused by businesses o c. GDP does not include goods and services produced privately inside the home. O d. GDP includes a positive adjustment for leisure activities, even if no purchase is required
QUESTION 8 The largest component of GDP is: A. consumption expenditure. B. gross private domestic investment C. government spending. D. net exports. QUESTIONS The sum of all income, including wages, salaries and benefits, profits, rental income, and interest, is called: A. labor income B. gross domestic income. C. national income. D. pretax income. QUESTION 10 A business cycle is: A. the periodic fluctuation of economic activity. B. the engine of economic growth. C. a period lasting about 50 years. D....
I 1) Gross Domestic Product (GDP) is A) the total wholesale value of all final goods and services produced by factors of production owned by citizens of a nation B) the total market value of all services produced by factors of production located within a nation's borders. C) the total market value of all goods produced within a nation's borders D) the total market value of all final goods and services produced by factors of production located within a nation's...
Residential investment includes spending by firms on office buildings. Select one: O True O False The GDP deflator is a measure of the Select one: O a. average level of prices of intermediate goods and services in the economy. O b. average level of prices of final goods and services in the economy. O c. total production of the economy unadjusted for inflation. O d.) total production of the economy adjusted for inflation. To examine how the total production of...
Which of the following is excluded from calculations of GDP? . Select one: O a. Goods that bring little value to society. O b. Income received by managers of corporations. O c. Used items such as cars, and purchases on E-Bay. O d. Items that are exported for sale overseas. Question 29 Not yet answered Points out of 1.00 P Flag question Which of the following is government spending on goods and services? Select one: O a. Medicare benefits. O...
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