Macroeconomics Quiz CH 6

Macroeconomics Quiz CH 6 - Chapter 6 Quiz Macro All of the...

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

View Full Document Right Arrow Icon
Chapter 6 Quiz Macro All of the following are included in gross domestic income except A) rental income. B) wages. C) net interest. D) welfare payments. Points Earned: 10.0/10.0 Correct Answer(s): D 2. Table 6-1 What is the total value of government purchases of goods and services? A) $480 billion B) $570 billion C) $290 billion D) $370 billion Points Earned: 10.0/10.0 Correct Answer(s): A 3. Suppose the nominal GDP rose in the third quarter of 2008 (from the second quarter). Yet, real GDP fell in the third quarter of 2008. What could have accounted for this? A) It is due to the fall in the economy's price level over the second and third quarters of 2008. B) There must have been a statistical error in the computations. C) It is due to an increase in the economy's price level over the second and third quarters of 2008.
Background image of page 1

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

View Full DocumentRight Arrow Icon
D) Output must have increased by a greater rate than the increase in the economy's price level.
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.

This note was uploaded on 03/07/2012 for the course ECON 2301 taught by Professor Staff during the Spring '08 term at HCCS.

Page1 / 4

Macroeconomics Quiz CH 6 - Chapter 6 Quiz Macro All of the...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online