9FER2 - 1 Econ 1A. Review Questions 2. (Sample) (Please...

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Econ 1A. Review Questions 2. (Sample) (Please study Chapter 4 – Chapter 7 carefully) I. Multiple choice [60] Circle the letter of the one answer that you think is correct or closest to correct. 1. The standard of living is measured by the level of a. consumption of goods. b. GDP. c. RGDP. d. RGDP per person. . 2. Investment includes purchases of a. all types of stocks. b. newly issued stocks. c. new capital and all types of stocks. d. new capital. 3. GDP using the expenditure approach equals a. C+S+G+NX. b. C+S+G-NX c. C+I+G+NX. d. C+I+G-NX. 4. To calculate GDP from the value of NDP at factor price, we have to add a. the value of intermediate goods and subtract the value of import. b. direct taxes, subtracts corporate profit, and add investment. c. indirect taxes, subtract subsidies, and add capital. d. subsidies, subtract indirect taxes and depreciation. . 5. When the economy is at full employment the a. natural rate of unemployment = 0. b. natural rate of unemployment = unemployment rate. c.
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This note was uploaded on 09/08/2010 for the course ECON 1A at San Jose State.

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9FER2 - 1 Econ 1A. Review Questions 2. (Sample) (Please...

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