1. 1Which of the following represents the single largest expenditure component of GDP? a. Personal consumption expenditures. b. Gross private investment. c. Net exports of goods and services. d. Govemment consumption expenditures and gross investment. 2. A company produced 19 dishwasher machines in 1999. The company sold Bin 1998 and added 2 to its inventories. The market value of the dishwasher machines in 1999 was $299 per unit. What is the value of this company's output that will be included in the 1999 GDP? a. $1,999 b. $499 c. $2,999 d. $1,999 3. If the price index is greater than 199, then nominal GDP is greater than real GDP. nominal GDP is lower than real GDP. nominal GDP equals real GDP. prices decreased by more than double between the current and the base years. ease 4. GDP is 1191a perfect measure of social welfare and the society's economic wellbeing because a. it does not say anything about the distribution of income. b. GDP accounting rules do not adjust for production that causes negative externalities. c. it does not include all economic activities in the economy. d. All of the above