Multiple Choice
Which of the following would be classified as a personal consumption expenditure?
A) Your purchase of this economics course.
B) Your purchase of a newly constructed house
C) Your purchase of a preowned house.
D) Your purchase of one share of Microsoft stock.
Correct Answer:
Verified
Correct Answer:
Verified
Q22: GDP overstates the productive capacity of a
Q23: Why is it important to use real
Q24: Using the expenditure approach, GDP equals:<br>A) C
Q25: Exhibit 5-8 GDP data (billions of dollars)<br><img
Q27: The circular flow of economic activity is
Q28: National income:<br>A) represents total wages and salaries
Q29: Dividends, retained earnings, and corporate income taxes
Q30: Which of the following statements is true
Q31: Exhibit 5-4 Gross domestic product data<br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8793/.jpg"
Q52: If the underground economy is sizable, then