Chapter-4宏觀經(jīng)濟學(xué)原理-弗蘭克版-題庫（含答案）

Chapter4

Student:___________________________________________________________________________

1.

Themostcommonlyusedmeasureofaneconomy'soutputis:

A.

therateofemployment.

B.

therateofinflation.

C.

grossdomesticproduct.

D.

theDowJonesstockmarketindex

2.

Grossdomesticproduct(GDP)equalsthe______offinal______producedwithinacountryduringagivenperiodoftime.

A.

marketvalue;goods

B.

marketvalue;services

C.

marketvalue;goodsandservices

D.

quantity;goodsandservices

3.

Themarketvalueoffinalgoodsandservicesproducedwithinacountryduringaperiodoftimeiscalled:

A.

guaranteeddirectprices.

B.

generaldomesticproductivity.

C.

governmentdocumentedproduction.

D.

grossdomesticproduct.

4.

GDPisameasureofaneconomy's:

A.

domesticpricelevel.

B.

levelofunemployment.

C.

totaloutput.

D.

domesticproductivity.

5.

______is/arethemarketvalueoffinalgoodsandservicesproducedwithinacountryduringagivenperiodoftime.

A.

GDP

B.

Consumption

C.

Valueadded

D.

Transferpayments

6.

Wheneconomistsusemarketvaluestoaggregateoutput,theysumthe:

A.

numberofitemsproduced.

B.

quantityofitemsproduced.

C.

pricetimesthequantityofeachitemproduced.

D.

inputsofeachitemproduced.

7.

Iftotaloutputiscalculatedbyaddingupthemarketvalueofgoodsandservicesproduced,thenmoreexpensiveitems:

A.

receivethesameweightascheaperitems.

B.

receiveagreaterweightthancheaperitems.

C.

receiveasmallerweightthancheaperitems.

D.

aredoublecounted.

8.

Ifaneconomyproduces3millionorangesthatsellfor$0.25eachand100,000carsthatsellfor$25,000each,thenwhenthemarketvalueoftotaloutputiscalculated:

A.

orangesreceiveagreaterweightthancars.

B.

orangesreceivethesameweightascars.

C.

orangesreceiveasmallerweightthancars.

D.

themarketvalueoforangesisexcluded.

9.

Supposethatthetotalproductionofaneconomyconsistsof4orangesand10candybars,eachorangesellsfor$0.25,andeachcandybarsellsfor$0.50.Whatisthemarketvalueofproductioninthiseconomy?

A.

$0.75

B.

$1.00

C.

$5.00

D.

$6.00

10.

Supposethatthetotalproductionofaneconomyconsistsof10orangesand5candybars,eachorangesellsfor$0.20,andeachcandybarsellsfor$1.00.Whatisthemarketvalueofproductioninthiseconomy?

A.

$1.20

B.

$2.00

C.

$5.00

D.

$7.00

11.

Supposethatthetotalproductionofaneconomyconsistsof10orangesand5candybars,eachorangesellsfor$0.20,andeachcandybarsellsfor$1.00.WhichexpressionoftheoutputofthiseconomyismostconsistentwiththeconceptofGDP?

A.

Thiseconomyproducestwo-thirdsorangesandone-thirdcandybars.

B.

Thiseconomyproducesfoodvaluedat$1.20.

C.

Thiseconomyproduces15fooditems.

D.

Thiseconomyproduces$7.00worthoffood.

12.

Adrawbackofusingmarketvaluestoaggregatethequantitiesofgoodsandservicesproducedinaneconomyisthat:

A.

higher-priceditemscountmore.

B.

GDPincreaseswhennotallgoodsareproducedingreaterquantities.

C.

marketpricesgenerallyreflecttheeconomicbenefitconsumersexpecttoreceivefromanitem.

D.

notalleconomicallyvaluablegoodsandservicesareboughtandsoldinmarkets.

13.

Thevalueofunpaidworkbyahomemaker______includedinGDPandthevalueofhousekeepingservicessoldinamarket______includedinGDP.

A.

is;isnot

B.

is;is

C.

isnot;isnot

D.

isnot;is

14.

WhichofthefollowingactivitiesismostlikelytobecountedinGDP?

A.

Franvolunteersatthelocalveteran’shospitaltwiceamonth.

B.

Stugave$5toahomelessmanhemetinthepark.

C.

Gailbuyspaperandcrayonstodonatetopoorchildreninneedofschoolsupplies.

D.

Budworkshardfivehourseachweektomakesurethathislawnalwayslooksnice.

15.

Thevalueofunpaidchildcareservicesprovidedbyastay-at-homedad______includedinGDP;thevalueofdaycareservicespurchasedfromalicensedchildcareprovider______includedinGDP.

A.

is;isnot

B.

is;is

C.

isnot;isnot

D.

isnot;is

16.

Goodsandservicesprovidedbystateandlocalgovernmentsare:

A.

includedinGDPatmarketprices.

B.

includedinGDPatcost.

C.

excludedfromGDPbecausetheyarenotsoldinmarkets.

D.

excludedfromGDPbecausetheyarepubliclyprovided.

17.

Educationalservicesprovidedbypublicschoolsare:

A.

includedinGDPatmarketprices.

B.

includedinGDPatcost.

C.

excludedfromGDPbecausetheyarenotsoldinmarkets.

D.

excludedfromGDPbecausetheyareintermediategoods.

18.

Nationaldefenseservicesprovidedbythemilitaryare:

A.

includedinGDPatmarketprices.

B.

includedinGDPatcost.

C.

excludedfromGDPbecausetheyarenotsoldinmarkets.

D.

excludedfromGDPbecausetheyareintermediategoods.

19.

Finalgoodsandservicesare______productionand______countedinGDP.

A.

theendproductsof;are

B.

theendproductsof;arenot

C.

usedupintheprocessof;are

D.

usedupintheprocessof;arenot

20.

Intermediategoodsandservicesare______productionand______countedinGDP.

A.

theendproductsof;are

B.

theendproductsof;arenot

C.

usedupintheprocessof;are

D.

usedupintheprocessof;arenot

21.

Whichofthefollowingwouldbeclassifiedasafinalgood?

A.

Newcomputersoftwaresoldtoacomputermanufacturerforinstallationinnewcomputers

B.

Theservicesprovidedbylawyerstoacomputermanufacturer

C.

Computerchipssoldtoacomputermanufacturerforinstallationinnewcomputers

D.

Anewcomputersoldtoabusinessfirm.

22.

Whichofthefollowingisnotclassifiedasafinalgood?

A.

Newclothingpurchasedbyacollegestudent

B.

Freshvegetablespurchasedbyarestaurant

C.

Anewcarpurchasedbyafamily

D.

Anewmachinepurchasedbyabusiness

23.

ThevalueofintermediategoodsisexcludedfromthemeasurementofGDPinorderto:

A.

adjustforinflation.

B.

avoiddoublecounting.

C.

indexeconomicactivity.

D.

measureGDPinconstantprices.

24.

Goodsandservicesthatareconsumedbytheultimateuserarecalled______goodsandservices.

A.

intermediate

B.

final

C.

valueadded

D.

nominal

25.

Goodsandservicesthatareusedupintheproductionofothergoodsandservicesarecalled______goodsandservices.

A.

intermediate

B.

final

C.

valueadded

D.

nominal

26.

Ifanautomobilemanufacturerpays$200foracarwindshield,$400forfourcartires,$100foracarCDplayer,andsellscarsmadewiththesepartsfor$20,000,theneachcartheautomobilemanufacturersellscontributeshowmuchtoGDP?

A.

$19,300

B.

$20,000

C.

$20,200

D.

$20,700

27.

Ifapizzamakerpays$1fortomatoes,$1forcheese,$2forsausage,andsellsthepizzamadewiththeseingredientsfor$7,theneachpizzasoldcontributeshowmuchtoGDP?

A.

$3

B.

$4

C.

$7

D.

$11

28.

IfBountifulOrchardgrows$100,000worthofpeaches,sells$50,000worthofpeachestoconsumersandusestoresttomakejamthatissoldtoconsumersfor$100,000,BountifulOrchard'scontributiontoGDPis:

A.

$50,000.

B.

$100,000.

C.

$150,000.

D.

$200,000.

29.

IftheCitrusGrowersAssociationgrows$1millionworthoforanges,sells$500,000worthoforangestoconsumers,usestheresttomakeorangejuicethatissoldtoconsumersfor$3million,CitrusGrower'scontributiontoGDPis:

A.

$500,000.

B.

$1,000,000.

C.

$3,500,000.

D.

$4,000,000.

30.

Whichofthefollowingisanexampleofanintermediategood?

A.

Anewcarsoldtoafamily

B.

Ametal-stampingmachineusedtoproducecarssoldtoanautomaker

C.

AnewCDplayersoldtoanautomakerforinstallationinacar

D.

AnewCDplayersoldtoateenager

31.

WhichofthefollowingisNOTacapitalgood?

A.

Batteriespurchasedbyacarmanufacturertoinstallinnewcars

B.

Machinespurchasedbyacarmanufacturertomeasuremetalthicknesses

C.

Anewhousepurchasedbyafamily

D.

Anewapartmentbuildingpurchasedbyacorporation

32.

Whichofthefollowingisanexampleofacapitalgood?

A.

Anewcarsoldtoafamily

B.

Ametal-stampingmachineusedtoproducecarssoldtoanautomaker

C.

AnewCDplayersoldtoanautomakerforinstallationinacar

D.

AnewCDplayersoldtoateenager

33.

Long-livedgoodsusedforproducingothergoodsandservicesarecalled:

A.

consumptiongoods.

B.

non-marketgoods.

C.

value-addedgoods.

D.

capitalgoods.

34.

Capitalgoodsare

A.

long-livedgoodsusedforproducingothergoodsandservices.

B.

theendproductsofproduction.

C.

publiclyprovided.

D.

excludedfromGDP.

35.

Factoriesandmachinesareexamplesof:

A.

consumptiongoods.

B.

non-marketgoods.

C.

value-addedgoods.

D.

capitalgoods.

36.

Capitalgoodsaretreatedas______goodsand,therefore,are______GDP.

A.

final;includedin

B.

final;excludedfrom

C.

intermediate;includedin

D.

intermediate;excludedfrom

37.

Thevalueaddedbyanyfirmequalsthefirm's______fromsellingtheproductminus_______.

A.

revenue;laborexpenses

B.

revenue;thecostofinputspurchasedfromotherfirms

C.

profits;laborexpenses

D.

profits;thecostofinputspurchasedfromotherfirms

38.

Afirm'srevenuefromsellingitsproductminusthecostofinputspurchasedfromotherfirmsiscalled:

A.

profits.

B.

investment.

C.

valueadded.

D.

productioncosts.

39.

Thesumofthevalueaddedbyallfirmsequalstotal:

A.

profits.

B.

spendingoncapitalgoods.

C.

investmentspending.

D.

valueoffinalgoodsandservices.

40.

GDPequalsthevalueaddedbyproducersof:

A.

intermediategoodsandservicesonly.

B.

finalgoodsandservicesonly.

C.

intermediategoodsandservices,aswellasfinalgoodsandservices.

D.

intermediateandfinalgoodsonly.

41.

Thevalueoffinalgoodsandservicesequals:

A.

totalbusinessprofits.

B.

thesumofthevalueaddedbyallfirms.

C.

totalbusinessspending.

D.

thesumofrevenuesfromallsales.

42.

Summingthevalueaddedofallfirmsyieldsthevalueoffinalgoodsandservicesproducedbecausebothmeasures:

A.

excludethevalueofcapitalgoods.

B.

excludethevalueofintermediategoodsandservices.

C.

useconstantprices.

D.

areadjustedforpopulationgrowth.

43.

OnewaytoavoidcountingthepricesofintermediategoodsmultipletimesincomputingthevalueofGDPisto:

A.

sumthevalueaddedofonlyproducersoffinalgoodsandservices.

B.

sumthevalueaddedofonlyproducersofintermediategoodsandservices.

C.

sumthevalueaddedofproducersofbothintermediateandfinalgoodsandservices.

D.

subtractthevalueaddedofproducersofintermediategoodsandservicesfromthevalueaddedofproducersoffinalgoodsandservices.

44.

SupposeajaroforangemarmaladethatisultimatelysoldtoacustomeratTheCornerStoreisproducedbythefollowingproductionprocess:

WhatisthevalueaddedofCitrusGrowersInc.?

A.

$0.00

B.

$0.50

C.

$0.75

D.

$1.75

45.

SupposeajaroforangemarmaladethatisultimatelysoldtoacustomeratTheCornerStoreisproducedbythefollowingproductionprocess:

WhatisthevalueaddedofFloridaJamCompany?

A.

$0.50

B.

$0.75

C.

$1.25

D.

$2.00

46.

SupposeajaroforangemarmaladethatisultimatelysoldtoacustomeratTheCornerStoreisproducedbythefollowingproductionprocess:

WhatisthevalueaddedofTheCornerStore?

A.

$0.50

B.

$1.75

C.

$2.00

D.

$2.50

47.

SupposeajaroforangemarmaladethatisultimatelysoldtoacustomeratTheCornerStoreisproducedbythefollowingproductionprocess:

Whatisthesumofthevalueaddedofallthefirms?

A.

$2.50

B.

$2.75

C.

$4.50

D.

$5.25

48.

SupposeajarofDeLuxpopcornthatisultimatelysoldtoacustomeratFriendlyGroceriesisproducedbythefollowingproductionprocess:

WhatisthevalueaddedofFultonFamilyFarm?

A.

$0.00

B.

$0.50

C.

$1.50

D.

$2.50

49.

SupposeajarofDeLuxpopcornthatisultimatelysoldtoacustomeratFriendlyGroceriesisproducedbythefollowingproductionprocess:

WhatisthevalueaddedofDeLuxPopcornCo.?

A.

$0.50

B.

$1.50

C.

$2.00

D.

$2.50

50.

SupposeajarofDeLuxpopcornthatisultimatelysoldtoacustomeratFriendlyGroceriesisproducedbythefollowingproductionprocess:

WhatisthevalueaddedofFriendlyGroceries?

A.

$1.50

B.

$2.50

C.

$3.50

D.

$4.00

51.

SupposeajarofDeLuxpopcornthatisultimatelysoldtoacustomeratFriendlyGroceriesisproducedbythefollowingproductionprocess:

Whatisthesumofthevalueaddedofallofthefirms?

A.

$3.00

B.

$4.00

C.

$6.50

D.

$7.00

52.

Whentheproductionprocessextendsovermorethanoneyear,thevalueofthefinalproductis:

A.

includedinGDPfortheyearinwhichproductionbegan.

B.

includedinGDPfortheyearinwhichproductionwascompleted.

C.

allocatedtoGDPineachyearaccordingtothevalueaddedinthatyear.

D.

allocatedequallytoGDPineachyear.

53.

SupposeajaroforangemarmaladethatisultimatelysoldtoacustomeratTheCornerStoreisproducedbythefollowingproductionprocess:

Iftheorangesweregrownandthejamproducedintheyear2015,butthemarmaladewassoldatTheCornerStoreintheyear2016,whatisthecontributionofthesetransactionstoGDPintheyear2015?

A.

$1.25

B.

$2.00

C.

$2.50

D.

$2.75

54.

SupposeajaroforangemarmaladethatisultimatelysoldtoacustomeratTheCornerStoreisproducedbythefollowingproductionprocess:

Iftheorangesweregrownandthejamproducedintheyear2015,butthemarmaladewassoldatTheCornerStoreintheyear2016,whatisthecontributionofthesetransactionstoGDPintheyear2016?

A.

$0.00

B.

$0.50

C.

$2.00

D.

$2.50

55.

SupposeajarofDeLuxpopcornthatisultimatelysoldtoacustomeratFriendlyGroceriesisproducedbythefollowingproductionprocess:

Ifthecornwasgrownandthejarofpopcornproducedintheyear2015,butthejarwassoldatFriendlyGroceriesintheyear2016,whatisthecontributionofthesetransactionstoGDPintheyear2015?

A.

$0.50

B.

$2.00

C.

$2.50

D.

$3.00

56.

SupposeajarofDeLuxpopcornthatisultimatelysoldtoacustomeratFriendlyGroceriesisproducedbythefollowingproductionprocess:

Ifthecornwasgrownandthejarofpopcornproducedintheyear2015,butthejarwassoldatFriendlyGroceriesintheyear2016,whatisthecontributionofthesetransactionstoGDPintheyear2016?

A.

$0.00

B.

$0.50

C.

$1.50

D.

$4.00

57.

WhichofthefollowingtransactionswouldbeincludedintheGDPoftheUnitedStates?

A.

CocaColaproducessoftdrinksinEngland.

B.

HondaproducescarsinOhio.

C.

McDonaldssellshamburgersinRussia.

D.

FordMotorCompanyproducescarsinMexico.

58.

WhichofthefollowingwouldbeincludedintheGDPoftheUnitedStates?

A.

BoeingbuildsaplaneinSeattlethatissoldtoAirCanada.

B.

ChryslerproducesacarinGermanythatissoldinMichigan.

C.

NestleproducesacandybarinSwitzerlandthatissoldinSanFrancisco.

D.

PlanetHollywoodservescustomersinarestaurantinHongKong.

59.

In2015,JaniceQuinnsellsafive-year-oldcartoUsedCar,Inc.for$3,000.Inthesameyear,UsedCar,Inc.resellsthecartoHildaGonerfor$3,500.WhatisthecontributionofthesetransactionstoGDPintheyear2015?

A.

$0

B.

$500

C.

$3,000

D.

$6,500

60.

In2015,PeteRichpurchasesa1642paintingbyRembrandtfor$20million.Healsopaysaonepercentcommissiontotheauctionhousethatsoldthepainting.WhatisthecontributionofthesetransactionstoGDPintheyear2015?

A.

$0

B.

$200,000

C.

$2million

D.

$20.2million

61.

ThefourcategoriesoffinalusersofGDPare:

A.

businesses,firms,governments,andtheforeignsector.

B.

households,theFederalReserve,governments,andtheforeignsector.

C.

businesses,corporations,firms,andfarms.

D.

households,firms,governments,andtheforeignsector.

62.

Themarketvalueofalldomesticallyproducedfinalgoodsandservicesarealsoequaltothetotalamountspentby______________lessspendingonimportedgoodsandservices.

A.

householdsandfirms

B.

households,firms,andgovernments

C.

households,firms,andtheforeignsector

D.

households,firms,governments,andtheforeignsector

63.

Totalspendingonfinalgoodsandservicesinaneconomymustequaltotal:

A.

profits.

B.

productionvalue.

C.

revenuesfromalltransactions.

D.

investment.

64.

Thetotalmarketvalueofproductioninaneconomymustequaltotal:

A.

profits.

B.

revenuesfromalltransactions.

C.

consumption.

D.

spendingonfinalgoodsandservices.

65.

Thefourcomponentsofaggregateexpendituresare:

A.

consumption,imports,governmentspending,andnetexports.

B.

consumption,interestpayments,governmentspending,andnetexports.

C.

consumerdurables,investment,governmentspending,andnetexports.

D.

consumption,investment,governmentspending,andnetexports.

66.

Consumptionexpendituresincludespendingbyhouseholdson:

A.

exports.

B.

inventories.

C.

residentialhousing.

D.

services.

67.

Consumptionspendingincludesspendingon:

A.

durables,nondurables,andservices.

B.

stocks,bonds,andotherfinancialinstruments.

C.

capitalgoods,residentialhousing,andchangesininventories.

D.

goodsandservicesbyfederal,state,andlocalgovernments.

68.

ThelargestexpenditurecomponentofU.S.GDPis:

A.

consumption.

B.

investment.

C.

governmentpurchases.

D.

exports.

69.

WhichofthefollowingwouldincreasetheconsumptioncomponentofU.S.GDP?

A.

YoupurchaseabottleofCaliforniawine.

B.

ApersoninParispurchasesabottleofCaliforniawine.

C.

ArestaurantinDenverpurchasesabottleofCaliforniawinetoincludeonitswinelist.

D.

TheU.S.governmentbuysabottleofCaliforniawinetoserveatastatedinnerintheWhiteHouse.

70.

Spendingondurablegoods,nondurablegoods,andservicesisincludedin:

A.

consumptionexpenditures.

B.

investment.

C.

governmentpurchases.

D.

netexports.

71.

WhichofthefollowingwouldincreasetheconsumptioncomponentofU.S.GDP?

A.

YoupurchaseavacationatDisneyWorldinFlorida.

B.

AbusinesspurchasesDisneyWorldvacationsasrewardsforthefirm'sbestsalespeople.

C.

DisneyWorldpurchasestiresforthemonorailfromafirminOhio.

D.

AFrenchmanpurchasesavacationataDisneythemeparkinFrance.

72.

WhichofthefollowingexpenditureswouldincreasetheconsumptioncomponentofU.S.GDP?

A.

Youbuyanewhouse.

B.

Youbuyapizza.

C.

Youbuy1,000sharesofstock.

D.

Youbuyausedbookaboutfinance.

73.

WhichofthefollowingexpenditureswouldincreasetheinvestmentcomponentofU.S.GDP?

A.

Youpurchaseanewhouse.

B.

Youpurchaseanewcar.

C.

Youpurchase1,000sharesofstock.

D.

Youpayacommissiontoyourstockbrokerforsellingsomestocksthatyouowned.

74.

Investmentspendingincludesspendingon:

A.

consumerdurablegoods.

B.

newcapitalgoods.

C.

services.

D.

stocksandbonds.

75.

Spendingonnewcapitalgoods,newhomes,andtheadditionofunsoldgoodstocompanyinventoriesisincludedin:

A.

consumptionexpenditures.

B.

investmentspending.

C.

governmentpurchases.

D.

servicespending.

76.

Investmentspendingincludesspendingon:

A.

durables,nondurables,andservices.

B.

stocks,bonds,andotherfinancialinstruments.

C.

capitalgoods,residentialhousing,andchangesininventories.

D.

goodsandservicesbyfederal,state,andlocalgovernments.

77.

Thevalueofgoodsproduced,butunsold,inthecurrentperiodis:

A.

excludedfromGDP.

B.

countedinGDPasinventoryinvestment.

C.

countedinGDPasconsumptionspending.

D.

allocatedtoGDPinfutureperiodswhenthegoodsaresold.

78.

WhichofthefollowingwouldincreasetheinvestmentcomponentofU.S.GDP?

A.

YoupurchaseanewclotheswashingmachineproducedintheU.S.

B.

YoupurchaseanewclotheswashingmachineproducedinFrance.

C.

AlaundryinSeattlepurchasesanewclothes-washingmachineproducedintheU.S.

D.

AlaundryinMexicopurchasesanewclothes-washingmachineproducedintheU.S.

79.

Changesinbusinessinventoriesare:

A.

classifiedasconsumptionexpenditures.

B.

classifiedasinvestmentexpenditures.

C.

classifiedasgovernmentpurchases.

D.

excludedfromGDP.

80.

WhichofthefollowingwouldincreasetheinvestmentcomponentofU.S.GDP?

A.

YoupurchaseavacationatDisneyWorldinFlorida.

B.

YoupurchasesharesofDisneystock.

C.

DisneyWorldpurchasestiresforthemonorailfromafirminOhio.

D.

AFrenchmanpurchasesavacationataDisneythemeparkinFrance.

81.

Ifbusinessinventoriesequal$40billionatthebeginningoftheyearand$55billionattheendoftheyear,then,assumingnootherchanges,GDPmusthave:

A.

decreasedby$15billion.

B.

increasedby$15billion.

C.

increasedby$40billion.

D.

increasedby$55billion.

82.

Governmentpurchasesincludeallofthefollowingexcept:

A.

socialsecuritybenefitspaidbythefederalgovernment.

B.

theconstructionofanewcourthousebuiltbyacountygovernment.

C.

thesalarypaidtoanelementaryschoolteacheremployedbyalocalpublicschooldistrict.

D.

thepurchaseofnewmilitaryhardwarebytheU.S.Army.

83.

WhichofthefollowingwouldincreasethegovernmentpurchasescomponentofU.S.GDP?

A.

TheU.S.federalgovernmentpays$3billioninpensionstogovernmentworkers.

B.

TheU.S.federalgovernmentpays$3billionininterestonthenationaldebt.

C.

TheU.S.federalgovernmentpays$3billioninsalariestosoldiersinthemilitary.

D.

TheU.S.federalgovernmentpays$3billionininteresttoforeignholdersofU.S.governmentbonds.

84.

Governmentpurchasesincludespendingbyfederal,state,andlocalgovernmentson:

A.

consumerdurables,nondurables,andservices.

B.

stocks,bonds,andotherfinancialinstruments.

C.

capitalgoods,residentialhousing,andchangesininventories.

D.

finalgoodsandservices.

85.

ThegovernmentpurchasescomponentofGDPincludes:

A.

purchasesoffinalgoodsandservices.

B.

interestpaymentsongovernmentdebt.

C.

transferpayments.

D.

paymentsmadetosocialsecurityrecipients.

86.

Netexportsequal:

A.

thevalueaddedofexports.

B.

exportsplusimports.

C.

exportsminusimports.

D.

exportsminusdepreciation.

87.

WhichoftheexpenditurecomponentsofGDPcanbenegative?

A.

consumptionspendingondurables.

B.

governmentpurchasesofgoodsandservices.

C.

consumptionspendingonservices.

D.

netexports.

88.

WhichofthefollowingwouldincreasethenetexportcomponentofU.S.GDP?

A.

AbottleofCaliforniawineispurchasedinLondon.

B.

AcarproducedinJapanispurchasedinCalifornia.

C.

AbottleofFrenchwineispurchasedinNewYork.

D.

AcarproducedinMichiganispurchasedinLouisiana.

89.

InwhichofthefollowingsituationswouldGDPnotchange?

A.

Asdomesticconsumersbuyfewertobaccoproducts,tobaccomanufacturersinsteadselltheirproducts,atthesameprice,toforeignbuyers.

B.

Domesticconsumersbegintobuylessimportedwine,andinsteadspendjustasmuchmoneyondomesticallyproducedwine.

C.

Withoutreducingthenumberofautomobilessold,domesticautomobileproducersdecidetoreducethenumberofautomobilestheyproduce,ratherthanproducingcarsthatwouldendupasunsoldinventory.

D.

Moreandmoredomesticconsumersopttobuildanewhome,ratherthanspendingthesamemoneyonanalreadyexistinghome.

90.

Giventhefollowingdatafortheeconomy,computethevalueofGDP.

Governmentpurchasesofgoodsandservices

10

ConsumptionExpenditures

70

Exports

5

Imports

12

Changeininventories

–7

Constructionofnewhomesandapartments

15

Salesofexistinghomesandapartments

22

Governmentpaymentstoretirees

17

Businessfixedinvestment

9

A.

56

B.

83

C.

90

D.

141

91.

Thefollowingtableprovidesdataforaneconomyinacertainyear._

Giventhedatainthetable,computetheinvestmentcomponentofGDP.

A.

300

B.

400

C.

800

D.

900

92.

Thefollowingtableprovidesdataforaneconomyinacertainyear._

Giventhedatainthetable,howmuchdidhouseholdsspendonnondurablesandservices?

A.

300

B.

700

C.

1,000

D.

1,300

93.

Thefollowingtableprovidesdataforaneconomyinacertainyear._

Giventhedatainthetable,computethegovernmentpurchasescomponentofGDP.

A.

200

B.

500

C.

700

D.

900

94.

Thefollowingtableprovidesdataforaneconomyinacertainyear._

Giventhedatainthetable,computethevalueofGDP.

A.

2,400

B.

2,500

C.

2,600

D.

2,700

95.

Thefollowingtableprovidesdataforaneconomyinacertainyear.__

Giventhedatainthetable,computetheinvestmentcomponentofGDP.

A.

30

B.

40

C.

60

D.

70

96.

Thefollowingtableprovidesdataforaneconomyinacertainyear.__

Giventhedatainthetable,howmuchdidhouseholdsspendonnondurablesandservices?

A.

20

B.

30

C.

50

D.

70

97.

Thefollowingtableprovidesdataforaneconomyinacertainyear.__

Giventhedatainthetable,computethegovernmentpurchasescomponentofGDP.

A.

10

B.

20

C.

30

D.

40

98.

Thefollowingtableprovidesdataforaneconomyinacertainyear.__

Giventhedataintheta