Macro Sample Test _4 Ch 6,8,9

Macro Sample Test _4 Ch 6,8,9 - MacroTest#4Ch6,8,9 Student:_

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Macro Test #4 Ch 6,8,9 Student: ___________________________________________________________________________ 1. An example of an intermediate good or service would be: A. Bricks bought by a homeowner for constructing a patio B. Sacks of groceries bought by a dentist for his family C. A car bought by a stockbroker for commuting to work D. A desk bought by an accountant for her office 2. Which is included in GDP? A. Used autos purchased by consumers B. Social Security payments C. Telephone service for a home D. Bread for a restaurant 3. In Year 1, inventories rose by $25 billion. In Year 2, inventories fell by $20 billion. In calculating GDP, national income accountants would have: A. Decreased it by $25 billion in Year 1 and increased it by $20 billion in Year 2 B. Decreased it by $25 billion in Year 1 and increased it by $5 billion in Year 2 C. Increased it by $25 billion in Year 1 and decreased it by $5 billion in Year 2 D. Increased it by $25 billion in Year 1 and decreased it by $20 billion in Year 2 4. Net exports is a negative number when: A. A nation's imports of goods and services fall B. A nation's imports of goods and services rise C. A nation's exports of goods and services are greater than its imports D. A nation's imports of goods and services are greater than its exports 5. A nation's capital stock (machinery, equipment and tools) was valued at $300 billion at the start of the year and $350 billion at the end. Depreciation in the year was $25 billion. Assuming stable prices, gross investment (Ig) was: A. $25 billion B. $50 billion C. $75 billion D. $90 billion
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The following data about a hypothetical economy are in billions of dollars. 6. Refer to the above data. GDP in this economy is: A. $6,080 billion B. $6,230 billion C. $6,380 billion D. $6,400 billion Assume an economy is producing only one product. Year 2 is the base year. Output and price data for a five- year period are given.
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Macro Sample Test _4 Ch 6,8,9 - MacroTest#4Ch6,8,9 Student:_

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