41.A good is producedby a firm in 2009,added to the firm’sinventory in 2010, andsold to a householdin 2010.Asaresult,onnet,
a.2009GDPincreasedand2010GDPdecreased.
b.2009GDPdecreasedand2010GDPincreased.
c.2009GDPdidnotchangeand2010GDPincreased.
d.2009GDPincreasedand2010GDPdidnotchange.
42.Astoveisproducedbyafirmin2014,addedtothefirm’sinventoryin2014,andsoldtoahouseholdin2015.Itfollowsthat
a.thevalueofthegoodisaddedtotheinvestmentcategoryof2014GDP,addedtotheconsumptioncategoryof2015GDP,andsubtractedfromtheinvestmentcategoryof2015GDP.
b.thevalueofthegoodisaddedtotheinvestmentcategoryof2014GDP,addedtotheconsumptioncategoryof2015GDP,andnotincludedintheinvestmentcategoryof2015GDP.
c.thevalueofthegoodisaddedtotheinvestmentcategoryof2014GDP,subtractedfromtheconsumptioncategoryof2015GDP,andnotincludedintheinvestmentcategoryof2015GDP.
d.thevalueofthegoodisaddedtotheinvestmentcategoryof2014GDP,subtractedfromtheconsumptioncategoryof2015GDP,andaddedtotheinvestmentcategoryof2015GDP.
43.RocketEnergyDrinkCompanybuyssugartoproduceenergydrinks.Attheendofaquarterbothitsinventoryofsugaranditsinventoryofenergydrinkshasincreased.Investmentforthequarterwillinclude
a.boththeincreasedinventoryofsugarandtheincreasedinventoryofenergydrinks.
b.theincreasedinventoryofsugar,butnottheincreasedinventoryofenergydrinks.
c.theincreasedinventoryofenergydrinks,butnottheincreasedinventoryofsugar.
d.neithertheincreasedinventoryofsugarnortheincreasedinventoryofenergydrinks.
44.WhichofthefollowingitemsisincludedinGDP?
a.thesaleofstocksandbonds
b.thesaleofusedgoods
c.thesaleofservicessuchasthoseperformedbyadoctor
d.AlloftheaboveareincludedinGDP.
45.Governmentpurchasesincludespendingongoodsandservicesby
a.thefederalgovernment,butnotbystateorlocalgovernments.
b.federalandstategovernments,butnotbylocalgovernments.
c.federal,state,andlocalgovernments.
d.federal,state,andlocalgovernments,aswellashouseholdspendingbyemployeesofthosegovernments.
46.Whichofthefollowingitemsiscountedaspartofgovernmentpurchases?
a.ThefederalgovernmentpaysthesalaryofaNavyofficer.
b.ThestateofNevadapaysaprivatefirmtorepairaNevadastatehighway.
c.ThecityofLasVegas,Nevadapaysaprivatefirmtocollectgarbageinthatcity.
d.Alloftheabovearecorrect.
47.Whichofthefollowingisincludedingovernmentpurchases?
a.unemploymentbenefitsastatepays
b.SocialSecuritypaymentstheU.S.governmentmakes
c.theservicesofaU.S.governmentattorneyvaluedatthecostofhersalary
d.Alloftheabovearecorrect.
48.Recently,theU.S.nationalincomeaccountshaveswitchedtocallinggovernmentpurchases
a.governmentspendingandtransferpayments.
b.transferpaymentsandgrossinvestmentbygovernment.
c.governmentconsumptionexpenditureandgrossinvestment.
d.governmentwages,salaries,andinvestmentexpenditure.
49.Aformofgovernmentspendingthatisnotmadeinexchangeforacurrentlyproducedgoodorserviceiscalled
a.atransferpayment.
b.consumption.
c.investment.
d.Noneoftheaboveiscorrect.
50.Atransferpaymentis
a.apaymentformovingexpensesaworkerreceiveswhenheorsheistransferredbyanemployertoanewlocation.
b.apaymentthatisautomaticallytransferredfromyourbankaccounttopayabillorsomeotherobligation.
c.aformofgovernmentspendingthatisnotmadeinexchangeforacurrentlyproducedgoodorservice.
d.thebenefitthatapersonreceivesfromanexpenditurebygovernmentminusthetaxesthatwerecollectedbygovernmenttofundthatexpenditure.
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