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e. government purchases of goods and services. 7. Which of the following purchases is included positively in the calculation of gross domestic product? a. A

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e. government purchases of goods and services. 7. Which of the following purchases is included positively in the calculation of gross domestic product? a. A used economics textbook from the bookstore b . New harvesting equipment for the farm C. 1,000 shares of stock in a computer firm d. A car produced in a foreign country e . Government bonds issued by a foreign firm 8. Which of the following would be included positively in the calculation of gross domestic product? a. Government purchase of a new submarine b. Social Security payment to a retired military officer C. The purchase of a home built 10 years ago d. Contributions to a charity organization e. Work performed by a barber who cuts the hair of his or her own children 9. Which of the following would be counted as investment when calculating gross domestic product? a. The purchase of a used computer by an auto manufacturer b. The purchase of a share of IBM stock by an employee C. The construction of a new house d. The construction of roads by the government e. The profit earned when selling shares of stock 10. Which of the following would be an example of an intermediate good or service? a. A calculator purchased by a college student for taking exams b. Gasoline purchased by an insurance agent to visit clients at their homes C. A house purchased by a family with four children d. A car purchased by a student's parents and given to the student e. Tuition paid by a student at a state university

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