31) An Australian firm produces software in the UK, its market value will be included in

Select one:

a.Both Australia's and UK's GDP

b.Australia's GDP.

c.the UK's GDP.

d.neither Australia's nor UK's GDP as it is counted towards National Product

32) Jenny is a cook at a restaurant and her hourly wage is $200. For her husband's birthday, she cooks an elaborate meal at home that takes her 5 hours to complete. As a result, the country's GDP

Select one:

a.remains the same

b.decreases by $1000

c.increases by $1000

d.might increase or decrease, depending on her income tax rate

33) Australia's financial account willnotinclude

Select one:

a.An increase in Australian government's asset holdings in foreign countries

b.An increase in asset holdings in foreign countries by Australian residents

c.Income received by Australian residents from investments made overseas

d.all answers are incorrect

34) We know that government is using discretionary fiscal policy when

Select one:

a.unemployment benefit payments increase during a recession

b.income tax receipts increase during an economic expansion

c.income tax decrease is introduced at the time of economic slowdown

d.unemployment benefit payments decrease during a recession