{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

2004prelim1 - PART I Multiple Choice 10 points(each...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
PART I: Multiple Choice. 10 points (each question worth ½ point) 1. Which of the following statements about gross domestic product (GDP) is correct? a) GDP measures the market value of final goods and services produced within a country. b) GDP measures the market value of goods and services produced by U.S. owned companies. c) GDP measures physical quantity of goods produced in the United States. Because there is no common unit for measuring services, they are excluded from GDP. d) GDP measures the market value of both intermediate and final goods and services produced within a country. 2. Which of the following is considered part of consumption spending in the calculation of GDP for 2001? 3. Nominal GDP is higher this year than last. We can conclude that: 4. Which of the following measures is the best indicator of changes in the well-being of individuals in a country? 5. Every payment from one individual to another: a) increases GDP
Background image of page 1

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

View Full Document Right Arrow Icon
b) decreases GDP c) increases national income d) none of the above
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}