Exam 6: Measuring Total Output and Income

China's gross national product can be calculated from China's GDP by:

Which of the following is a reason for the discrepancy between GDP and GDI?

The value of income generated by the production of a given value of final goods and services is called:

If flour is sold to a bread producing firm, then the value of that flour is not included in the GDP.

Government purchases include transfer payments.

Which of the following would not be included in the measurement of GDP?

The cost of producing goods and services includes:

Which of the following is an advantage of a value added tax (VAT) Compared to a final tax on retail sales?

In reality, the GDP-GDI gap for the United States

The components of gross domestic income include:

The gross national product (GNP) Of the U.S.measures:

"Avatar," a movie released in 1998, was, as of 1999, the top-grossing movie of all time.However, in real terms, it ranked eighth in box office receipts, below an older hit movie, "Gone With the Wind." From this information, we can conclude that

Use the following to answer questions Exhibit: The Circular Flow for the United States -The largest expenditure category in U.S.GDP in 2011 was:

Use the following to answer questions Exhibit: Components of GDP for an Economy 2 -(Exhibit: Components of GDP for an Economy 2) What is the value of government purchases of goods and services?

The value of GDP differs from the value of GNP because:

The gross domestic product of a nation:

The total volume of sales in an economy is much larger than the value of GDP because:

In the generation of GDP, pollution often occurs.So, we can infer that

For a given level of GDP, an increase in net factor earnings from abroad will:

A resident of San Diego, California, owns and operates a garage across the U.S.-Mexican border in Tijuana, Mexico.The value of the garage services produced at the shop would be counted in _____.