chp345 - Exam Name_ MULTIPLE CHOICE. Choose the one...

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Exam Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Gross domestic product is the total ________ produced within a country in a given time period. 1) _______ A) market value of all final and intermediate goods and services B) market value of all final goods and services C) amount of final and intermediate goods and services D) market value of all goods and services 2) A feature of a stock variable and a flow variable is that 2) _______ A) a stock is a quantity per unit of time and a flow is a quantity that exists at a point in time. B) an example of a stock variable is real GDP and an example of a flow variable is consumption expenditure. C) a stock only measures the value of goods and services produced in a country during a given time period. D) a stock is a quantity that exists at a point in time and a flow is a quantity per unit of time. 3) Which of the following is a stock variable? 3) _______ A) wealth B) investment C) income D) saving 4) GDP is 4) _______ A) investment in the nation's economy. B) a measure of the amount of government debt. C) a stock. D) a flow. 5) Which of the following correctly describes GDP? I. GDP is a flow variable. II. GDP is the value of the production of an individual firm's goods and services. III. GDP can be calculated using the expenditure approach or the income approach. 5) _______
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This note was uploaded on 04/12/2011 for the course ECON 1101 taught by Professor Rappoport during the Spring '08 term at Temple.

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chp345 - Exam Name_ MULTIPLE CHOICE. Choose the one...

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