单选题 Real GDP in 2005 is ( )

A、 a. $6,000.
B、 b. $240,000.
C、 c. $410,000.
D、 d. $612,000.
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单选题 Which of the following would be counted in U.S. GDP? ( )

A、a. The purchase of an historical house.
B、b. The purchase of a haircut.
C、c. The purchase of a $1000 government bond.
D、d. The income an American earns in China.

单选题 Assume net exports are -$$220, consumption is $$5,000, tax revenues are $$1,000, government purchases are $$1,500, and 1997 GDP, calculated by the expenditures approach, is $8,000. We can conclude that ( )

A、a. private investment was $1,940.
B、b. public investment was $310.
C、c. private investment was $320.
D、d. private investment was $1,720.

单选题 In producing a sweater, a man who shears sheep pays a farmer $$4 for a sheep. The shearing shop sells the wool to a knitting mill for $$7. The knitting mill buys the wool and makes it into a fine fabric and sells it to a sweater-making firm for $$13. The sweater-making firm sells the sweater to a clothing store for $$20, and the clothing store sells the sweater, gift wrapped, for $50. What is the contribution to GDP of the previous sales transactions? ( )

A、a. $4.
B、b. $44.
C、c. $50.
D、d. $94.

单选题 Real GDP is nominal GDP ( )

A、a. plus depreciation.
B、b. adjusted for changes in the price level.
C、c. minus depreciation.
D、d. minus taxes.

单选题 The four categories of expenditures that make up GDP are ( )

A、a. consumption, investment, exports, and government purchases.
B、b. consumption, investment, imports, ad government purchases.
C、c. consumption, investment, net exports, and government purchases.
D、d. consumption, investment, net exports, and government transfer payments.

单选题 Which of the following would be counted as an investment expenditure in the national income accounts? ( )

A、a. The Navy builds a new battleship.
B、b. Microsoft expands plant capacity to produce new software.
C、c. A public high school builds a new football stadium.
D、d. All of the above would be counted as investment expenditure.

单选题 If private investment increased by $50 billion while GDP remained the same, which of the following could have occurred, all else being the same? ( )

A、a. consumption spending decreased by $50 billion.
B、b. exports increased by $50 billion.
C、c. imports decreased by $50 billion.
D、d. net exports increased by $50 billion.

单选题 Susie grows corn in her backyard garden to feed her family. The corn she grows is not counted in GDP because ( )

A、a. it was not produced for the marketplace.
B、b. it is an intermediate good which Susie will process further.
C、c. the corn has no value.
D、d. her behavior is illegal.