Question : 6.1   Gross Domestic Product 1) The total market value of all : 1381076

 

6.1   Gross Domestic Product

 

1) The total market value of all final goods and services produced within a given period by factors of production located within a country is

A) gross domestic product.

B) gross national product.

C) net national product.

D) net national income.

 

2) Gross domestic product measures

A) the total spending of everyone in the economy.

B) the value of all output in the economy.

C) the total income of everyone in the economy.

D) all of the above

 

3) Which of the following is an example of a final good or service?

A) wheat a bakery purchases to make bread

B) coffee beans Starbucks purchases to make coffee

C) lumber purchased by a construction company to used in building houses

D) a computer purchased by Federal Express to track shipments

 

4) Which of the following is a good or service counted in GDP?

A) tires Ford buys to put on a car

B) a used tire you buy for your personal car

C) a new tire you buy for your personal car

D) used tires bought by a used car dealer to put on a car on his lot

5) Which of the following is an example of an intermediate good?

A) the dough you buy to fix yourself a pizza for dinner

B) the chocolate you buy to make yourself some cookies

C) the pizza sauce you purchase to make pizzas to sell for a fund-raiser for an organization you belong to

D) lumber you buy to build a house for your dog

 

6) Double counting can be avoided by

A) including the value of intermediate goods in the current year.

B) not counting the value of intermediate goods in GDP.

C) including the value of intermediate goods in the GNP but not in the GDP.

D) including the value of intermediate goods in the production year but not in the selling year of those goods.

 

7) Which of the following would NOT be counted in 2013’s GDP?

A) the value of a 2008 boat you purchase from a boat dealer in 2013

B) the 2013 salary of a used motorcycle salesperson

C) the commissions earned by a real estate agent in selling condominiums built prior to 2013

D) the value of a refrigerator manufactured in 2013 but not sold in 2013

 

8) Which of the following would be counted in 2013’s GDP?

A) the value of a loan you take in 2013

B) the value of a TV that was produced in 2012 but not sold until 2013

C) the bonus check a stockbroker gets from his/her company in 2013

D) the value of a bond sold by the federal government

9) Which of the following is NOT included in 2013’s GDP?

A) the value of a motorcycle produced in the United States and exported to Japan

B) the profit earned in 2013 from selling a stock that you purchased in 2008

C) the value of a motor that is used in the production of a lawn mower

D) the commission earned by a headhunter when she locates a job for a client

 

10) Gross national product is the total market value of

A) all final and intermediate goods and service produced by resources owned by a country in a given year.

B) all final and intermediate goods and services produced in a country, regardless of who owns the resources.

C) all final goods and services produced in a country in a given year, regardless of who owns the resources.

D) all final goods and services produced by resources owned by a country, regardless of where production takes place.

 

 

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more