Question 1

GDP is

Accepted Answer

A)  a perfect measure of the standard of living.
B)  a perfect measure of the value of production.
C)  a measure which includes the value of all newly produced goods and services.
D)  an imperfect measure of the standard of living.
E)  the only factor that affects our standard of living.F) B) and C)
G) D) and E)

Question 2

Explain how the purchases of used goods and of financial assets affect GDP.

Accepted Answer

Used goods count in GDP for the year in ...

Question 3

Which of the following is NOT directly included in U.S.GDP?

Accepted Answer

A)  sales to tourists of beach umbrellas in Hilton Head,South Carolina
B)  sales of sandwiches at a Subway store in Bangor,Maine
C)  ticket sales to Ripley's Aquarium in Gatlinburg,Tennessee
D)  popcorn purchased by a movie theater chain in Georgia
E)  movie tickets purchased by consumers in GeorgiaF) C) and E)
G) C) and D)

Exam 14: Gdp: a Measure of Total Production and Income

Which of the following is NOT directly included in U.S.GDP?

Correct Answer
verified

GDP is

Correct Answer
verified

Explain how the purchases of used goods and of financial assets affect GDP.

Correct Answer
verified
Used goods count in GDP for the year in ...
View Answer

Exam 14: Gdp: a Measure of Total Production and Income

Which of the following is NOT directly included in U.S.GDP?

Correct AnswerverifiedShow Answer

GDP is

Correct AnswerverifiedShow Answer

Explain how the purchases of used goods and of financial assets affect GDP.

Correct AnswerverifiedUsed goods count in GDP for the year in ...View AnswerShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Used goods count in GDP for the year in ...
View Answer