Excercise1G (1) - Exercise 1 Multiple Choice Questions...

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Exercise 1 (2014-10-01) Multiple Choice Questions - Please select the best answer for each question 1. Roy rented a house in 2013, paying $500 each month. He could have continued renting at $500 per month in 2014, but took the option of purchasing the house from the owner. He is going to make a $650 per month mortgage payment. The housing service he receives will be A. included in 2014 GDP at the rate of $500 per month. B. included in 2014 GDP at the rate of $650 per month. C. excluded from 2014 GDP because Roy owns the house and doesn't pay rent to himself. D. included in 2014 GDP at a rate higher than $650 per month because Ian also pays taxes and insurance on the house. 2. The implicit GNP deflator is 3. An American company owns a fast-food store in Osaka, Japan. The value of the goods and services produced in the store
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  • Spring '12
  • warfield
  • Economics, Gdp, Roy, U.S. GDP, Japanese GDP

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