Question 2 (1 point) A benefit of using GDP per capita instead of GDP is that it: 0 a) measures the effects of outliers skewing the averages. O b) takes into account the size of the population when measuring the value of the goods and services a country produces. O c) takes into account the differences in wealth between rich and poor within a country. 0 d] takes into account the environmental benefits or harm of economic activity. Question 3 (1 point) GDPcan be found either by adding up all of the \"WWW" orali of the ,,,,,, W in the economy. 0 3) spending; income 0 '3) net interest payments; taxes 0 Cl spending; taxes 0 d] investment: income Question 4 (1 point) Gross private domestic investment. which consists of ,,,,,,,,,,,,,,, and changes in private inventories. is an important determinant of , O a) fixed investments; trade deficits O '3) fixed investments; swings in the business cycle 0 c) investment in stocks and bonds; trade deficits Q d) investment in stocks and bonds; inflation Question 5 (1 point) The simple circular flow diagram shows that economic aggregates can be calculated either by the ,,,,,,, W, flows in the product market or by the , flowing to households In the resource market. O a) output; spending 0 b) spending; income 0 Cl spending. output 0 d] income: spending Question 6 (1 point) The demand measure of GDP accounting adds together' 0 wages and salaries' rent, interest. and prot. 0 consumption. government purchases. wages and salaries. and trade balance. 0 consumption. investment. government purchases, and trade balance. 0 consumption, interest, government purchases, and trade balance. Question 8 (1 point) ___ are now the largest single component of the supply side of GDP, representing over half of GDP. :: Nondurable goods (D Services () Durable goods (\"a Structures \\ / Question 9 (1 point) Approximately what share of US. GDP is consumption? /\\ a) 70% O b) 50% 1'\" l H) C) 90% /\\ L,\" d) 80% Question 10 (1 point) The largest component of aggregate demand is: /"'\\ in" a) investment spending. /'\\ it) bl government spending. /"\\ l l '4 C) saving. /'7\\ U '3') consumption spending. Question 14 (1 point) A legal system that enforces property rights is important to economic growth because: /'\\ U a) the legal system can help the government with tax collection b) bankruptcy laws encourage lending. C: c) legal protection of ideas and technologies gives people who innovate the ability to protect their work. I" \\ L) '3\" strong laws demonstrate commitment by legislators to economic growth