U.S. Gross Domestic Product (GDP) does NOT include which of the following?
A. business investment in the United States
B. U.S. exports to Canada
C. the purchase of all final goods and services by U.S. households
D. the value of goods produced in China by a U.S. owned firm
Answer: D
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__________ are what is available to be used. They produce valued results. They are assets used to satisfy some need
a. Resources b. Goals c. Values d. Attitudes
If a number of people suddenly deposit into their checking accounts a great deal of cash previously kept in their pockets or at home, other things constant, their actions will
a. create excess reserves and place banks in a position to extend additional loans, which will reduce the money supply. b. create excess reserves and place banks in a position to extend additional loans, which will expand the money supply. c. lead to higher interest rates. d. force the Fed to reduce its discount rate.
The GDP deflator is the ratio of
a. real GDP to nominal GDP multiplied by 100. b. real GDP to the inflation rate multiplied by 100. c. nominal GDP to real GDP multiplied by 100. d. nominal GDP to the inflation rate multiplied by 100.
Suppose consumers and business decision makers become more optimistic about the future, and aggregate expenditures increase. The most likely result is that:
A. real GDP and employment and income to decline. B. real GDP and employment rise. C. real GDP rises and employment falls. D. real GDP falls and employment rises.