1) A company in the United States produces dog treats and sells them to consumers in France. This sale is included in the ________ category of U.S. gross domestic product (GDP).

A)investment

B)government purchases

C)export

D)consumption

E)import

2)On a given day, a bakery sells 500 cookies at a price of $2 each for a total of $1,000. This dollar figure is a measure of

A)output minus income.

B)neither output nor income.

C)both output and income.

D)income, but not output.

E)output, but not income.

3)Nominal gross domestic product (GDP) typically rises ________ than real GDP because nominal GDP reflects ________.

A)faster; only growth in prices

B)slower; growth in both prices and production

C)faster; growth in both prices and production

D)slower; only growth in prices

E)slower; only growth in production