macro_tif1_ch07

Depreciati onis a thedeclinein

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Unformatted text preview: The output of U.S. citizens who work in Canada would be included in the A) gross domestic product of Canada. B) gross domestic product of the United States. C) gross national product of Canada. D) gross national product of Canada and the gross national product of the United States. Answer: A Diff: 2 Type: MC Page Ref: To pic : 649/229 G S Conceptual Objective: LO4: Become familiar with other measures of total production and AACSB Coding: total income Reflective Thinking Special Feature: None 4. If an firm opens a production facility in India, the total value of the production will be included in the American A) gross national income of India. B) gross domestic product of the U.S. C) gross domestic product of India. D) net domestic product of the U.S. Answer: C Diff: 2 Type: MC Page Ref: To pic : 649/229 G S Conceptual Objective: LO4: Become familiar with other measures of total production and AACSB Coding: total income Reflective Thinking Special Feature: None 5. Which of the following is included in both the U.S. GDP and U.S. GNP? A) the value of all cars produced by Toyota in the U.S. B) the value of all cars produced by General Motors in the U.S. C) the value of all cars produced by Nissan in Japan and the U.S. D) the value of all cars produced by Ford in Mexico Answer: B Diff: 2 Type: MC Page Ref: To pic : 649/229 G S Conceptual Objective: LO4: Become familiar with other measures of total production and AACSB Coding: total income Reflective Thinking Special Feature: None 6. A country significant fraction of domestic production takes place in foreign owned factories and facilities is most in which a likely a country where A) GDP is much larger than GNP. B) GDP is not comparable to GDP. C) GDP is equal to GNP. D) GNP is much larger than GDP. Answer: A Diff: 2 Type: MC Page Ref: To pic : 649/229 G S Conceptual Objective: LO4: Become familiar with other measures of total production and AACSB Coding: total income Reflective Thinking Special Feature: None 7. The value U.S. owned McDonald's produces in South Korea is included in the U.S. ________ and the South Korean of what a _________. A) GNP; GNP B) GDP; GDP C) GNP; GDP D) GDP; GNP Answer: C Diff: 2 Type: MC Page Ref: To pic : 649/229 G S Conceptual Objective: LO4: Become familiar with other measures of total production and AACSB Coding: total income Reflective Thinking Special Feature: None 8. Net national product equals gross national product minus A) depreciation. B) changes in inventories. C) imports. D) inventories. Answer: A Diff: 1 Type: MC Page Ref: To pic : 649/229 O S Definition Objective: LO4: Become familiar with other measures of total production and AACSB Coding: total income Reflective Thinking Special Feature: None 9. National income equals net national product A) plus government transfer payments. B) plus sales taxes. C) minus sales taxes. D) minus government transfer payments. Answer: C Diff: 1 Type: MC Page Ref: To pic : 649/229 O S Factual Objective: LO4: Become familiar with other measures of total production and AACSB Coding: total income Reflective Thinking Special Fea...
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This note was uploaded on 09/21/2012 for the course ECON 2010 taught by Professor Roussel during the Spring '08 term at LSU.

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