shown the correct answer. This will provide you with the information you need to review the areas you need to work on, and allow for student-instructor interaction if you still need assistance. 1 / 1 pts Question 1 If net exports are a negative number, then: we are not buying enough exports. we are exporting less than we are importing.
5/8/2019 M09: Quiz: 00A-Spring 2019-Economics Fundamentals CAFE 2/6 GDP will underestimated when measured using the expenditure approach. we are exporting more than we are importing. 0 / 1 pts Question 2 Incorrect Which of the following is a shortcoming of GDP? GDP measures used goods and services. GDP includes changes in inventories. GDP includes the value of net exports. GDP does not make an allowance for leisure time. 1 / 1 pts Question 3 If a homeowner sells a kitchen table and chairs that she no longer wants to use and does not report the income earned from the sale to the Internal Revenue Service, the value of GDP is understated because this transaction took place in the underground economy. overstated because the sale of the furniture is counted twice in GDP calculations.
- Winter '13
- Mr. Keller
- Algebra, gross domestic product, Final goods