QUESTION 2

A Volkswagen factory in USA is part of _ GDP and _ GNP.

1. US, US
2. German, German
3. US, German
4. German, US

QUESTION 3

Non-market activities are also known as _ production.

1. non-discounted
2. unadvertised
3. unwanted
4. at-home

QUESTION 4

Net investment = gross investment -

1. taxes
2. payroll
3. interest
4. depreciation

QUESTION 5

Investment is all purchases:

1. by business
2. by business not for resale
3. by business not for resale within a year
4. by business to de deducted from taxes

QUESTION 6

Depreciation is when something becomes:

1. worn
2. obsolete
3. misunderstood
4. worn and/or obsolete

QUESTION 7

Examples of government transfers include:

1. new playgrounds
2. EBT card
3. school desk
4. firemen's payroll

QUESTION 8

You own a barber shop. An investment would be a new:

1. bottle of shampoo
2. can of shaving cream
3. chair
4. roll of paper towels

QUESTION 9

sales intermediate goods

golf course $7,000 $2,000

clothing store $18,000 $13,000

architect $9,000 $2,000

Which had the most intermediates?

1. golf course
2. clothing store
3. architect
4. more info needed

QUESTION 10

Another name for underground activities is _ production.

1. at home
2. non-market
3. under-the-table
4. illegal

QUESTION 11

Consumption is:

1. tuberculosis
2. household spending
3. depreciation
4. energy use

QUESTION 12

economy A B (# millions)

GDP $100,000 $110,000 $80,000 $100,000

population 4 4.2 8 10

Which grew in output per capita?

1. A
2. B
3. both
4. neither

QUESTION 13

Government purchases include all the following except:

1. food stamps
2. new police car
3. fireman's pay
4. new road

5 points

QUESTION 14

sales intermediate goods

golf course $7,000 $2,000

clothing store $18,000 $13,000

architect $9,000 $2,000

Which contributed the most value added?

1. golf course
2. clothing store
3. architect
4. more info needed

5 points

QUESTION 15

You have a boat docked and the harbormaster says the boat needs 5 hours per week of work to stay in the same condition. If you spent 7 hours this week then your boat has _ hours of actually improvement.

1. 0
2. 2
3. 7
4. 12

QUESTION 16

economy A B (# millions)

GDP $100,000 $110,000 $80,000 $100,000

population 4 4.2 8 10

Which economy was bigger?

1. A
2. B
3. one started bigger while the other ended bigger
4. equal

QUESTION 17

Which identity is true?

1. net eXport = iMports + eXports
2. net eXport = iMports - eXports
3. iMports = eXports + net eXports
4. net eXports = eXports - iMports

QUESTION 18

economy A B (# millions)

GDP $100,000 $110,000 $80,000 $100,000

population 4 4.2 8 10

Which had more output per capita?

1. A
2. B
3. equal
4. one started with more but ended with less

QUESTION 19

A Ford car factory in Canada is part of _ GDP and _ GNP.

1. US, US
2. Canadian, Canadian
3. US, Canadian
4. Canadian, US

QUESTION 20

economy A B (# millions)

GDP $100,000 $110,000 $80,000 $100,000

population 4 4.2 8 10

Which had more population?

1. A
2. B
3. equal
4. one started bigger but ended smaller