chapter 24 quiz

chapter 24 quiz - 1. Answer the next question(s) on the...

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1. Answer the next question(s) on the basis of the following national income data. All figures are in billions of dollars. Refer to the above data. Personal consumption expenditures: A) cannot be calculated. B) are $231. C) are $225. D) are $205. 2. GDP excludes: A) the market value of unpaid work in the home. B) the production of services. C) the production of nondurable goods. D) positive changes in inventories. 3. The fact that nominal GDP has risen faster than real GDP: A) suggests that the base year of the GDP price index has been shifted. B) tells us nothing about what has happened to the price level. C) suggests that the general price level has fallen. D) suggests that the general price level has risen. 4. The ZZZ Corporation issued $25 million in new common stock in 2008. It used $18 million of the proceeds to replace obsolete equipment in its factory and $7 million to repay bank loans. As a result, investment:
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A) of $7 million has occurred. B) of $25 million has occurred.
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chapter 24 quiz - 1. Answer the next question(s) on the...

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