Question 11 net taxes are taxes paid minus a

Question 11
Net taxes are taxes paid minus _____.
A. consumption expenditure of households
B. subsidies
C. cash benefits received from governments
D. capital expenditure

Exam #4 - Ch. 14-16
Question 12
Saving is the amount of income that is _____ in net taxes or spent on _____ goods and services.
Question 13
Facebook is the reason for the productivity slowdown, no, really
Facebook's WhatsApp is free and it sells no advertising. So WhatsApp's value of production in GDP is
zero. Assume that WhatsApp's services are produced by 300 people all of whom earn $100,000 a year.
By this measure, WhatsApp's value of production in GDP is $30 million.
Source: Forbes, February 13, 2016
What are the two approaches to measuring GDP described in the news clip?
Why is one of these measures of the contribution of WhatsApp to GDP wrong?
The two approaches to measuring GDP described in the news clip are the _______.
The news clip is incorrect that the value of production is _________. Question 14
Real GDP is the value of the _____ goods and services produced in a given year expressed in terms of
the prices in _____ year.
Nominal GDP is the value of the _____ goods and services produced in a given year expressed in terms
of the prices of _____ year.
A. intermediate; a base;
final; that same

Exam #4 - Ch. 14-16
B. final; a base;
final; that same
C. final; that same;
final; a base
D. final; that same;
intermediate; a base