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ECON1002.1 INTRODUCTION TO MACROECONOMICS SPRING 22/ FINAL EXAM QUESTIONS I) If no foreign companies produce in a country, but many of the country's companies produce abroad, then A) the country's GNP will tend to exceed its GDP. B) the country's GDP will tend to exceed its GNP. C) the country's GNP and GDP will tend to be equal. D) the country's GDP will tend to be equal to its domestic income. 2) If the saving function is of the form [S= -20 + 0.3)], consumption at an income level of 200 is A) 80. B) 120. C) 160. D) 180. 3) If Lily's consumption function is of the form [C = 100 + 0.8Y], her saving equals zero at an income level of A) 180. B) 500. C) 800. D) cannot be determined from the given information. 4) Gross domestic product calculations count only final goods and services because A) one cannot calculate the quantities of intermediate goods produced. B) it is difficult to measure the prices of intermediate goods produced. C) these are the only goods and services that are produced in an economy. D) counting all goods and services would lead to double-counting of many activities