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A. subtract exports, but add imports, in calculating GDP.

B, subtract both exports and imports in

calculating GDP.

C. add both exports and imports in calculating GDP.

D.add exports, but subtract imports, in calculating GDP




2.in an economy, the value of inventories rose from $100 billion in 2008 to $150 billion in 2009. In calculating total investment for 2009 compared to 2008, national income accountants would:

A.decrease it by $50 billion.

B.increase it by $50 billion.

C.decrease it by $100 billion.

D.increase it by $150 billion



3.Government purchases in national income accounts would include expenditures for payments of

A.Social Security checks to retirees.

B.salaries for current U.S. military officers.

C.public assistance for welfare recipients.

D.public assistance for military veterans.




4.GDP is the market value of:

A.economic resources used in the production of annual output in an economy.

B.all final goods and services produced in an economy in a given year.

C.consumption and investment spending in an economy in a given year.

D.national income distributed to producers, consumers, and investors in an economy.

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