ch10quiz - Chapter 10 Measuring a Nation's Income 1 Gross...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 10 Measuring a Nation's Income 1. Gross Domestic Product measures: a. the total income in the economy, but not the total expenditure on the economy's output. b. the total expenditure on the economy's output, but not the total income in the economy. c. both the total income in the economy and the total expenditure on the economy's output. d. neither the total income in the economy nor the total expenditure on the economy's output. 2. Assume households purchase all greeting cards. In calculating GDP, the government will include the value: a. of all the paper as well as all the greeting cards produced in the economy. b. of all the greeting cards but of none of the paper. c. of all of the greeting cards and any paper that is added to inventory. d. of some of the greeting cards and all of the paper. 3. The Gross Domestic Product measures the value of: a. final goods, but not services. b. final services, but not goods.
Background image of page 1

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

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/08/2010 for the course ECON econ101 taught by Professor Miriam during the Spring '10 term at École Normale Supérieure.

Page1 / 2

ch10quiz - Chapter 10 Measuring a Nation's Income 1 Gross...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online