Which one of the following is not an example of final goods in national income accounting?
A. Desktop computer purchased by an executive for business use
B. Tractor purchased by a construction company
C. Lumber and steel beams purchased by a construction company
D. Laptop computer purchased by an executive for personal use
Answer: C
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In August of this year, Jack can best estimate the current year's GDP by:
A. adjusting the first two quarterly estimates of GDP for seasonal variation. B. taking an average of the last four quarterly estimates of GDP available. C. multiplying the most recent quarter's GDP estimate by four. D. looking back at previous years GDP in order to make an accurate projection.
Categorization of activities in an organization along product or geographic lines is called:
a. globalization. b. decentralization. c. functionalization. d. divisionalization.
Which of the following pairs best represents substitute goods?
a. hamburgers and hamburger rolls b. hot dogs and hot dog rolls c. veggie burgers and hamburger rolls d. hot dogs and hamburger rolls e. hamburgers and hot dogs
Exhibit 15-7 Foreign exchange market for U.S. dollars and British pounds
Which of the following could cause the dollar-pound exchange rates to change as shown in Exhibit 15-7?
A. American goods become more popular in Great Britain. B. British incomes rise, while U.S. incomes remain unchanged. C. The U.S. price level rises, while the British price level remains unchanged. D. The U.S. real interest rate rises, while the British real interest rate remains unchanged.