2_Practice_Questions_key - Measuring the Macroeconomy Practice Problems KEY Multiple Choice 1 Which of the following are not included in the expenditure

2_Practice_Questions_key - Measuring the Macroeconomy...

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Measuring the Macroeconomy - Practice Problems - KEY Multiple Choice 1. Which of the following are not included in the expenditure approach to National Income Accounting? a transfer payments b taxes c Social Security d changes in the stock exchange e all of the above 2. 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. e a and c 3. Using the expenditure approach, consumption expenditures include: a household 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 government have been relatively .
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