C2_Pre-Test - Pre-Test

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Pre-Test (See related pages) 1 Which of the following terms measures the value of the output of an economy? A) Inflation B) Unemployment C) Demand D) GDP 2 GDP (Gross Domestic Product) is: A) the total value of final goods and services produced within a nation's borders in a given time period. B) another name for inflation. C) the value of goods sold to foreign countries. D) None of the above is true. 3 Which of these terms measures GDP in current dollars? A) Real B) Nominal C) Inflation-adjusted D) None of the above is true. 4 Since 1900, the per capita output of the economy has increased about _____ percent. A) 100 B) 200 C) 300 D) 500 5 The U.S. produces over _____% of the world's output, with only _____% of the world's population. A) 80; 20 B) 50; 10 C) 20; 5 D) 10; 1 6 Which country has the largest economy in the world? A) Japan B) China C) United States D) Mexico 7 The major uses of total output include: A) household consumption. B)
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This note was uploaded on 01/28/2011 for the course PAS 2201 taught by Professor R.nair during the Spring '10 term at St. John's.

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C2_Pre-Test - Pre-Test

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