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Measuring the Macroeconomy - Practice Problems - KEYMultiple Choice1. Which of the following are not included in the expenditure approach to National Income Accounting?a transfer paymentsb taxesc Social Securityd changes in the stock exchangeeall of the above2. Which of the following counts toward changes in the current GDP?a A student buys another year of tuition.b You purchase a used stereo from a friend.c The government builds a new highway.d You fix your own sink.ea and c3. Using the expenditure approach, consumption expenditures include:ahousehold purchases of durable and nondurable goods and services.b household purchases of durable and nondurable goods.c household purchases of durable and nondurable goods and taxes.d household purchases of durable and nondurable goods and residences.e household purchases of nondurable goods.4. Since about, United States expenditure shares by households, firms, and the governmenthave been relatively.