Gross domestic product (GDP) equals the ______
1 INCORRECT of final _______ produced within a country during
a given period of time.
A)market value; goods
B)market value; services
C)market value; goods and services
E)quantity; goods and services
Goods and services that are used up in the
2 CORRECT production of other goods and services are called
_____ goods and services.
3 CORRECT Consumption spending includes spending on:
A)durables, nondurables, and services.
B)stocks, bonds, and other financial
C)capital goods, residential housing, and
changes in inventories.
D)goods and services by federal, state, and
E)goods and services sold abroad minus
goods and services produced abroad.
Which of the following would increase the
investment component of U.S. GDP?
A)You purchase a vacation at Disney World in
B)You purchase shares of Disney stock.
C)Disney World purchases tires for the
monorail from a firm in Ohio.
D)A French man purchases a vacation at a
Disney theme park in France.
E)A French child purchases mouse ears made
in California at a Disney theme park in
5 INCORRECT Net exports equal:
A)the value added of exports.
B)exports minus imports.
C)the market value of exports.
D)exports plus imports.
E)exports minus depreciation.
The number of unemployed divided by the labor
force equals the:
A)labor-force participation rate.
E)unemployment spell rate.
The number of people unemployed and employed
A)working age population.
Nominal GDP is measured in _____ prices and
real GDP is measured in _____ prices.
The market value of a firm's product minus the
9 INCORRECT cost of inputs purchased from other firms is
10 INCORRECT Discouraged workers are counted as:
C)out of the labor force.