chapter_07_&_08_replacement_-_goods_market_equilibrium3

chapter_07_&_08_replacement_-_goods_market_equilibri...

Info icon This preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Page 1 of 17 Test Bank Macroeconomics: Theory and Policy Chapter 07 & 08: Goods Market Equilibrium B. Modjtahedi Question 1 The national income identity says that: A. Exports are identically equal to imports B. National income is identically equal to national consumption C. GDP is identically equal to national consumption D. GDP is identically equal to total expenditure E. None of the above. Question 2 Melissa buys a laptop for her son. National income accountants classify this purchase as: Question 3 GM Corporation buys a laptop for one of its employees. National income accountants classify this purchase as: Question 4 Saudi Arabia buys a U.S.-made laptop. This transaction will affect: Question 5 Consider the following data for a country: C = 10 I = 12 G = 8 EX = 15 IM = 5 Y = 40 The data indicates that A. There is excess demand for goods.
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Page 2 of 17 B. There is excess supply of goods. C. The goods market is in equilibrium. D. There is unplanned inventory accumulation. E. None of the above. Question 6 Consider the following data for a country: C = 10 I = 12 G = 8 EX = 15 IM = 5 Y = 30 The data indicates that Question 7 Consider the following data for a country: C = 10 I = 12 G = 8 EX = 15 IM = 5 Y = 50 The data indicates that Question 8 Consider the following data for a country in 2006: C = 10 I = 2 G = 8 EX = 15 IM = 5 Y = 40 The data indicates that
Image of page 2