Question 1

Which of the following is not considered a component of government purchases in calculating GDP?

Accepted Answer

A) the cost of a new federal prison 
B) the cost of building a new road 
C) unemployment compensation payments 
D) payments made to plow public roads after a snowstorm 
E) the cost of police protection 
A) the cost of a new federal prison 
B) the cost of building a new road 
C) unemployment compensation payments 
D) payments made to plow public roads after a snowstorm 
E) the cost of police protection

Question 2

Which of the following expenditures are not included in the consumption component of GDP?

Accepted Answer

A) maid service 
B) purchase of a new home 
C) a new videocassette recorder 
D) a restaurant meal 
E) tax preparation service 
A) maid service 
B) purchase of a new home 
C) a new videocassette recorder 
D) a restaurant meal 
E) tax preparation service

Question 3

Consumption spending is the biggest aggregate expenditure,about

Accepted Answer

A) one half 
B) three fifths 
C) two fifths 
D) two thirds 
E) seven tenths 
A) one half 
B) three fifths 
C) two fifths 
D) two thirds 
E) seven tenths

Question 4

Aggregate income is defined as

Accepted Answer

A) the sum of income earned by all laborers in the world economy 
B) the sum of income earned by all workers in the private sector 
C) the total income of all individuals who contribute resources to the market production of output 
D) total income after all income taxes but before paying other payroll taxes 
E) total income after purchases of necessities 
A) the sum of income earned by all laborers in the world economy 
B) the sum of income earned by all workers in the private sector 
C) the total income of all individuals who contribute resources to the market production of output 
D) total income after all income taxes but before paying other payroll taxes 
E) total income after purchases of necessities

Question 5

Chain-weighted indexes have less bias compared to fixed-weight indexes.

Accepted Answer

A) True 
 B)False

Question 6

A shortcoming of national income accounting is that it ignores

Accepted Answer

A) the depreciation of manufactured capital 
B) spending by poor households who are receiving government transfer payments 
C) spending on items such as handguns and attack dogs,since they represent a decline in social well-being 
D) the depletion of natural resources 
E) U.S.production that is sold overseas 
A) the depreciation of manufactured capital 
B) spending by poor households who are receiving government transfer payments 
C) spending on items such as handguns and attack dogs,since they represent a decline in social well-being 
D) the depletion of natural resources 
E) U.S.production that is sold overseas

Which of the following is not considered a component of government purchases in calculating GDP?

Which of the following expenditures are not included in the consumption component of GDP?

Consumption spending is the biggest aggregate expenditure,about

Aggregate income is defined as

Chain-weighted indexes have less bias compared to fixed-weight indexes.

A shortcoming of national income accounting is that it ignores

The Art and Science of Economic Analysis

Economic Tools and Economics Systems

Economic Decision Makers

Demand, supply, and Markets

Introduction to Macroeconomics

Unemployment and Inflation

Productivity and Growth

Aaggregate Expenditure and Aggregate Demand

Baggregate Expenditure and Aggregate Demand

Aggregate Supply

Fiscal Policy

Federal Budgets and Public Policy

Money and the Financial System

Banking and the Money Supply

Monetary Theory and Policy

Macro Policy Debate: Active or Passive

International Trade

Externalities and the Environment

International Finance

Economic Development

understanding Graphs

National Income Accounts

The Algebra of Demand-Side Equilibrium

Filters

Exam 6: Tracking the Useconomy

Which of the following is not considered a component of government purchases in calculating GDP?

Which of the following expenditures are not included in the consumption component of GDP?

Consumption spending is the biggest aggregate expenditure,about

Aggregate income is defined as

Chain-weighted indexes have less bias compared to fixed-weight indexes.

A shortcoming of national income accounting is that it ignores

The Art and Science of Economic Analysis

Economic Tools and Economics Systems

Economic Decision Makers

Demand, supply, and Markets

Introduction to Macroeconomics

Unemployment and Inflation

Productivity and Growth

Aaggregate Expenditure and Aggregate Demand

Baggregate Expenditure and Aggregate Demand

Aggregate Supply

Fiscal Policy

Federal Budgets and Public Policy

Money and the Financial System

Banking and the Money Supply

Monetary Theory and Policy

Macro Policy Debate: Active or Passive

International Trade

Externalities and the Environment

International Finance

Economic Development

understanding Graphs

National Income Accounts

The Algebra of Demand-Side Equilibrium

Filters