201_HW3_(09-28-09) - ECON201: MACROECONOMICS Homework #3...

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ECON201: MACROECONOMICS Homework #3 Multiple-Choice Questions (one point each): Please put your answers on scantron. 1. The GDP is the: A. national income minus all nonincome charges against output. B. monetary value of all economic resources used in producing a year's output. C. monetary value of all goods and services, final and intermediate, produced in a specific year. D. monetary value of all final goods and services produced within a nation in a particular year. 2. If intermediate goods and services were included in GDP: A. the GDP would then have to be deflated for changes in the price level. B. nominal GDP would exceed real GDP. C. the GDP would be overstated. D. the GDP would be understated. 3. GDP can be calculated by summing: A. consumption, investment, government purchases, exports, and imports. B. investment, government purchases, consumption, and net exports. C. consumption, investment, wages, and rents. D. consumption, investment, government purchases, and imports.
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This note was uploaded on 12/18/2009 for the course ECONOMICS 122112 taught by Professor Kimrahg during the Spring '09 term at George Mason.

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201_HW3_(09-28-09) - ECON201: MACROECONOMICS Homework #3...

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