Multiple Choice
Out of the following list, choose the item that would be included in the expenditure approach to calculating GDP:
A) an unemployment cheque from the government to R.Smith
B) the cost of the second-hand mountain bike you bought from your flatmate
C) a $200 cheque from your Uncle Arthur
D) the purchase of 60 litres of petrol at $1.42 cents per litre for your car
Correct Answer:
Verified
Correct Answer:
Verified
Q41: Suppose an economy produces two products: meat
Q42: GDP includes the value of final goods,
Q43: Suppose GDP consists of wheat and rice.In
Q44: Since black market and non-market measures are
Q45: How can GDP increase if production of
Q46: Which of the following accounts for the
Q47: If the GDP deflator is 200 and
Q48: If there is inflation<br>A)nominal GDP grows faster
Q49: The four components of GDP are:<br>A)consumption, money
Q51: Transfer payments are included under<br>A)consumption<br>B)investment<br>C)government purchases<br>D)none of