The phrase for spending that is investment government purcha

The phrase for spending that is investment, government purchases, or exports is Select one: a. Leakage in GDP b. Decrease in GDP c. Injection to GDP d. Addition to GDP

Question 2 Not yet answered Marked out of 1 Not flaggedFlag question Question text Which statement is true? Select one: a. More leisure is available now (as compared to a generation ago), due to a shorter workweek and earlier retirement. b. Leisure-time has economic value but is not reflected in GDP. c. Quality improvements of goods and services are reflected in GDP. d. The importance of new products in improving our lives is reflected in GDP.

Question 3 Not yet answered Marked out of 1 Not flaggedFlag question Question text Which purchase is an example of a final good or service? Select one: a. Gasoline, used to fuel a taxi cab that transports customers. b. Gasoline, used to fuel a bus that takes paying riders to Oklahoma City. c. Car filters installed on a new car that will be sold in a car lot in Wichita KS. d. Car filters, installed by your neighbor into your neighbor’s car.

Question 4 Not yet answered Marked out of 1 Not flaggedFlag question Question text Use data from the World Bank on Gross domestic product 2013, http://databank.worldbank.org/data/download/GDP.pdf, and The World Factbook list of GDP per capita, https://www.cia.gov/library/publications/the-world-factbook/rankorder/2004rank.html. In terms of size of the economy, the United States is ranked ______ in the world, but in terms of average wealth, citizens of the United States are ranked _____. Select one: a. First, First b. First, Eighth c. First, Nineteenth d. Second, First e. Second, Eighth f. Second,Nineteenth

Question 5 Not yet answered Marked out of 1 Not flaggedFlag question Question text The sale of homes built in the past, stocks and bonds, and machinery built in the past is Select one: a. counted in this year\'s GDP. b. excluded from this year\'s GDP.

Question 6 Not yet answered Marked out of 1 Not flaggedFlag question Question text Adding all wage and salaries, rents, royalties, interest and dividends, and other forms of income created within a country within a year, and received by residents of a country, gives us Select one: a. GDP using the expenditure method b. GDP using the income method c. GNP using the expenditure method d. GNP using the income method

Question 7 Not yet answered Marked out of 1 Not flaggedFlag question Question text Ways that increased GDP may worsen our quality of life include Select one: a. Lower unemployment and higher income b. More stress-caused illnesses as people work harder c. More undeveloped land as new construction of buildings and roads decreases d. Preservation of rare species as the demand increases for energy resources resulting in more drilling and transporting of oil and gas (and more accidents).

Question 8 Not yet answered Marked out of 1 Not flaggedFlag question Question text Disposable Income equals Select one: a. Income minus bills b. Transfer payments plus income c. Income minus taxes plus transfer payments d. Consumption spending of income

Question 9 Not yet answered Marked out of 1 Not flaggedFlag question Question text The highest point in the Business Cycle (long term cycle of GDP growth) is called the Select one: a. Apex b. Summit c. Crest d. Peak

Question 10 Not yet answered Marked out of 1 Not flaggedFlag question Question text Public librarians’ salaries, snow removal of city streets, and the purchase of aircraft carriers are all included in which category of GDP? Select one: a. Consumption b. Government Spending c. Investment d. Net Exports

Question 11 Not yet answered Marked out of 1 Not flaggedFlag question Question text Download the data on citizens’ reported happiness on http://www.happyplanetindex.org/data/. GDP is used as a proxy variable for wellbeing, so rich countries should have happy citizens. The “happiest” citizens in the Happy Planet Index live in Select one: a. Costa Rica b. Vietnam c. Columbia d. Belize

Question 12 Not yet answered Marked out of 1 Not flaggedFlag question Question text In the immediate future, more household saving, more net taxes, and more imports Select one: a. cause GDP to rise. b. cause GDP to fall. c. have no immediate effect upon GDP.

Question 13 Not yet answered Marked out of 1 Not flaggedFlag question Question text Use the following information to find the value added of the carpenter who made a table: Profession: Economic activity: Money received from sale: Lumberjack Cut down a tree $25 Sawmill owner Turn tree into wood planks $75 Carpenter Turns lumber into table $150 Furniture store owner Sells tables to consumers $250 Select one: a. $25 b. $50 c. $75 d. $100

Question 14 Not yet answered Marked out of 1 Not flaggedFlag question Question text When we add Consumption + Investment + Government Spending + Exports – Imports for an entire year for a single country, we have calculated Select one: a. Productivity b. Household income c. GDP d. Wealth e. Balance of Trade

Question 15 Not yet answered Marked out of 1 Not flaggedFlag question Question text Summing up all spending on all final goods and services that a country produced over a year gives us Select one: a. GDP using the expenditure method b. GDP using the income method c. GNP using the expenditure method d. GNP using the income method

Question 16 Not yet answered Marked out of 1 Not flaggedFlag question Question text Which of the following is NOT a transfer payment? Select one: a. Food assistance in a prepaid debit card b. Social Security supplementary income c. Government-subsidized housing d. Payments into a 529 education-saving plan

Question 17 Not yet answered Marked out of 1 Not flaggedFlag question Question text Use information in NBER’s Business Cycle Contractions and Expansions, http://www.nber.org/cycles/cyclesmain.html. The longest economic contraction that the USA has undergone occurred in Select one: a. 1870’s b. 1880’s c. 1930’s d. 2000’s

Question 18 Not yet answered Marked out of 1 Not flaggedFlag question Question text Look up NBER’s Business Cycle Contractions and Expansions, http://www.nber.org/cycles/cyclesmain.html. The economy’s last recession turned upward in Select one: a. April 2008 b. June 2009 c. August 2010 d. December 2011

Question 19 Not yet answered Marked out of 1 Not flaggedFlag question Question text The purchase new machinery and new homes, inventories of new goods not yet sold, and goods that are partially manufactured on December 31st of this year, are included in which category of this year’s GDP? Select one: a. Consumption b. Government Spending c. Investment d. Net Exports Next Skip Quiz navigation QUIZ NAVIGATION Question 1 This page Question 2 This page Question 3 This page Question 4 This page Question 5 This page Question 6 This page Question 7 This page Question 8 This page Question 9 This page Question 10 This page Question 11 This page Question 12 This page Question 13 This page Question 14 This page Question 15 This page Question 16 This page Question 17 This page Question 18 This page Question 19 This page Finish attempt ...

Solution

Answer 1

Correct answer is (c) injection in GDP, as investment, government purchases, or exports helps in increasing the GDP of any economy