chap02 - Macroeconomics,3e(Williamson) Chapter2 Measureme...

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  Macroeconomics, 3e  (Williamson)  Chapter 2   
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Measureme 1) 
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The  principal printed source for reporting the U.S. National Income and Product Accounts is called the  A) 
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Monthly Labor  Review.  B) 
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Survey of  Current Business.  C) 
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Current  Population Survey.  D) 
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GDP Statistical  Review.  Answer:  
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Question Status:  
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Previous Edition 2) 
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The three  approaches to measuring GDP are called the  A) 
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accounting  approach, the income approach, and the expenditure approach.  B) 
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product  approach, the cost approach, and the expenditure approach.  C) 
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product  approach, the income approach, and the expenditure approach.  D) 
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accounting  approach, the statistical approach, and the income approach.  Answer:  
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Question Status:  
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Previous Edition 3) 
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Approach es to measuring GDP include all of the following  except  the  A) 
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cost approach.  B) 
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product  approach.  C) 
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income  approach.  D) 
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expenditure  approach.  Answer:  
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Question Status:  
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Previous Edition 4) 
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Jim's  Nursery  produces and sells $1100 worth of flowers. Jim uses no intermediate inputs. He pays his workers $700 in  wages, pays $100 in taxes and pays $200 in interest on a loan. Jim's contribution to GDP is  A) 
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$900.  B) 
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$1000.  C) 
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$1100.  D) 
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$1800.  Answer:  
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Question Status:  
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Previous Edition 5) 
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chap02 - Macroeconomics,3e(Williamson) Chapter2 Measureme...

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