Quiz Questions 5.docx - Question Which of the following...

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Question Which of the following would not be included in official GDP measures? a) the purchase of books on how to live a healthier life b) the value of a country's exports c) the lost wages from taking time off work due to bad air pollution d) the cost of installing environmentally friendly solar panels Question 2 If a country experiences a rise in prices but produces the same quantity of output as in the previous year, its nominal GDP will _____ and its real GDP will _____. a) increase; be unchanged b) decrease; be unchanged c) decrease; increase d) increase; also increase Question 3 Which of the following is a criticism of the national income and product accounts? a) They do not capture most nonmarket economic activity. b) They are poorly correlated with the business cycle.
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c) They overstate the “green” impact of economic activity. d) They are too cumbersome to use for policymaking. Question 4 Net exports equal: a) zero, by definition.
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