In the product markets, households A. are neither buyers nor sellers in the market. B. are the buyers of goods and services. C. are the sellers of resources. D. none of the above is correct. Which of the following transactions would NOT be included in GDP? A. the purchase of 100 shares of newly issued Microsoft stock B. the purchase of a newly issued government bond C. the purchase of a previously issued corporate bond D. all of the above Gross Domestic Product (GDP) is A. the total market value of all final goods and services produced by factors of production located within a nation's borders. B. the total market value of all services produced by factors of production located within a nation's borders. C. the total market value of all goods produced within a nation's borders. D. the total wholesale value of all final goods and services produced by factors of production owned by citizens of a nation. Economic growth can be depicted as A. a movement down on the production possibilities curve. B. an outward shift on the production possibilities curve. C. an inward shift on the production possibilities curve. D. a movement up on the production possibilities curve. Durable consumer goods include all of the following EXCEPT A. an automobile. B. Alphabet company stock. C. a laptop. D. a smartphone. If Gross Domestic Product (GDP) equals $900 billion, gross private investment expenditures are $200 billion, exports equal imports, and government spending is $400 billion, then A. consumption expenditures are $300 billion. B. consumption expenditures are $200 billion. C. spending on consumer durables must be $400 million. D. we cannot determine what expenditures on consumption are without more information. Which of the following is included in Gross Domestic Product (GDP)? A. Investment spending on capital goods B. Purchases of stocks and bonds by individuals C. Sales of financial assets to foreign firms D. Purchases of stocks and bonds by firms Government spending 50 Profit 28 Social Security contributions 20 Net U.S. income earned abroad 10 Corporate taxes 5 Imports 5 Personal income taxes 8 Exports 3 Rent 54 Interest 5 Wages 231 Depreciation 10 Consumption expenditures 250 Government transfer payments 8 Gross Private Domestic Investment 40 Using the above table, the Disposable Personal Income (DPI) for the country is A. 78. B. 147. C. 318. D. 220. The difference between nominal and real values is that real values take into account A. changes in the composition of output. B. changes in prices between years. C. the presence of durable goods. D. depreciation