1. The US economy mostly produces what sort of output?

Select one:

a. Agricultural goods

b. Services

c. Manufactured goods

d. Goods and services for the government

2. Which of the following is considered in the calculation of 2020 US GDP?

Select one:

a. sale of a 2020 Chevy Malibu

b. volunteers building a home for a family in need

c. payment for income taxes

d. laptop produced and purchased in China

3. GDP is broken down into four categories of output. Which of the following is a GDP category?

Select one:

a. net exports

b. taxes

c. savings accounts

d. production