Question 1)THE GDP IS THE VALUE OF AL FINAL GOODS AND SERVICES PROVIDED A)WITHIN THE NATIONS BOUNDRIES

1)THE GDP IS THE VALUE OF AL FINAL GOODS AND SERVICES PROVIDED
A)WITHIN THE NATIONS BOUNDRIES
B)BY DOMESTICALLY OWNED COMPANIES
C)BY CITIZENS OF THE COUNTR
D)BY DOMESTICALLY CONTROLLED COMPANIES
2)NET DOMESTIC PORDUCTI IS USUALLY PREFERRED TO GDP BY ECONOMISTS BECAUSE NET NATIONAL PRODUCT
A)INCLUDES DEPRECIATION
B)EXCLUDES DEPRECIATION
C)INCLUDES INDIRECT BUSINESS TAXES
D)EXCLUDES INDIRECT BUSINESS TAXES
3)THE LARGEST ITEM AMOUNT AMONG THOSE LISTED HERE IS
A)NATIONAL INCOME
B)NET INTEREST
C)NET DOMESTIC PRODUCT
D)COPORATE PROFITS
4)WHICH IS NOT COUNTED IN GDP
A)A SOCIAL SECURITY CHECK SENT TO A RETIREE
B)GOVERNMENT SPENDING ON HIGHWAY BUILDING
C)MONEY SPENT ON AN AIRLINE TICKET
D)MONEY SPENT BY A COMPANY TO BUILD ANEW OFFICE PARK
5)THE SMALLEST COMPONENT OF NATIONAL INCOME IS
A)RENT
B)INTEREST
C)PROFITS
D)SALAIRES AND WAGES
6)OUR GDP INCLUDES ALL THE OUTPUT PORDUCED BY AMERICANS
A)AND FOREIGNERS WITHIN OUR BORDERS
B)WITHIN OUR BORDERS
C)WITHIN OUR BORDER AND ABOARD
D)WITH OUR BORDERS AND BY AMERICAN-OWNED, MULTINATIONAL COMPAINES WITH OFFICES AND FACTORES ABROAD
7)WICH OF THE FOLLOWING IS THE BEST EXAMPLE OF AN INTERMEDIATE PRODUCT
A) A ROAD
B)STEEL
C)BREAD
D)A TV SET
8)WHICH OF THE FOLLOWING WOULD INCREASE GDP
A)MORE IMPORTS
B)ADDITIONAL LISURE TIME
C)GOVERNMENT REMOVING MORE LITTER
D)PEOPLE ENGAGING IN MORE DOIT YOURSELF PROJECTS
9)NATIONAL INCOME ACCOUNTANTS CAN AVOID MULTIPLE ACCOUNTING BY
A)INCLUDING TRANSFERS IN THEIR CACULATIONS
B)COUNTING BOTH INTERMEDIATE AND FINAL GOODS
C)ONLY COUNTING FINAL GOODS
D)ONLY COUNTING INTERMEDIATE GOODS
10)THE CONCEPT OF NET DOMESTIC INVESTMENT REFERS TO
A)THE AMOUNT OF MACHINERY AND EQUIPMENT USED UP IN PRODUCING THE GDP IN A GIVEN YEAR
B)THE DIFFERENCE BETWEEN THE MARKET VALUE AND BOOK VALUE OF OUTSTANDING CAPITAL STOCK
C)GROSS DOMESTIC INVESTMENT LESS NET EXPORTS
D)TOTAL INVESTMENT LESS THE AMOUNT OF INVESTMENGOODS USED UP IN ACCOMPLISHING THE YEARS PRODUCTION
11)GDP CAN INCREASE AT A FASTER RATE THAN REAL GDP ONLY IF
A) THERE IS INFLATION
B)THE UNEMPLOYMENT RATE IS INCREASING
C)THE VALUE OF THE DOLLAR IS STABLE
D)THE POPULATION IS GROWING
12)WHICH STATEMENT IS TRUE
A)GDP IS A VIRTUALLY PERFECT MEASURE OF NATIONAL OUTPUT
B)GDP TAKES INTO ACCOUNT POLLUTION,CRIME, AND EVEN PERSONAL STATISFACTION
C)GDP IS A SINGLE NUMBER THA TSEEKS TO MEASURE OUR NATIONAL OUTPUT
D)THERE IS NO RELATIONSHIP BETWEEN OUR GDP AND OUR NAITON OUTPUT
13)WHICH OF THE FOLLOWIN IS AN INTERMEDIATE GOOD OR SERVICE
A)A PAINT GUN PURCHASED BY HANDY ANDY
B)A DOZEN BOXES OF GIRL SCOUT COOKIES PURCHASED BY YOUR INSTRUCTOR
C)A COMPUTER PURCHASE BY A FARMER IN SMALLVILLE, KANSAS
D)GULE PURCHASED BY MCGRAWHILL TO BIND YOUR TEXTBOOK
14) ————— IS THE MARKET VALUE OF A FIRMS OUTPUT LESS THE VALUE OF THE INPUTS THE FIRM HAS BOUGHT FROM THE PREVIOUS SELLER
A) VALUE ADDED
B)NET DOMESTIC PRODUCT
C)REAL GDP
D)GENUINE PROGRESS INDEX
15)WHICH THE SMALLEST
A) NET DOMESTIC PRODUCT
B)NATIONAL INCOME
C)GOVERNMENT EXPENDITURES
D)NET EXPORTS
16)GDP IS LESS THAN PERFECT MEASURE OF ECONOMIC WELL BEING IT MAY BE FAULTED FOR EACH OF THESE PRACTICES EXCEPT THAT IT
A)DOES NOT TAKE LEISURE TIME INTO ACCOUNT
B)INVOLVES MULTIPLE COUNTING
C)DOES NOT TAKE PSYCHIC COSTS INTO ACCOUNT
D) DOES NOT TAKE PSYCHIC INCOME INTO ACCOUNT
17)NET DOMESTI PRODUCT IS EQUAL TO
A)GOSS NATIONAL PRODUCT
B)THE INFLATION RATE
C)NATION INCOME PULUS COPORATE PROFITS TAXES
D)NI PLUIS INDIRECT BUSINESS TAXES
18)WE DO NOT COUNT____________ AS PART OF GDP
A) PRICE INCREASES
B)TRANSFER PAYMENTS
C)FINAL GOODS
D)DEPRECIATION
19)ABOUT SEVEN OUT OF TEN DOLLARS OF OUR GDP IS SPENT ON
A)GOVERNMENT PURCHASES
B)NET EXPORTS
C)INVESTMENT SPENDING
D)CONSUMER GOODS
20)THE VLAUE ACTUALLY EARNED BY MEMBERS OF HOUSEHOLDS WHO SUPPLY THE INPUTS NECESSARY TO PRODUCT GDP IS CALLED
A) NET INVESTMENT
B)NATIONAL INCOME
C)PERSONAL INCOME
D)DISPOSABLE INCOME

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