Paper Topic:

Macroeconomics Chapter 21

Chapter 21

Name___________________________________ ID MULTIPLE CHOICE . Choose the one alternative that best completes the statement or answers the question . 1

Gross domestic product

1

____B__ A

is generally less than federal expenditure in any time period . B

measures the value of the aggregate production of goods and services in a country during a given time period . C

measures the value of labor payments generated in an economy in a given time period . D

includes all the goods and of the services produced in an economy in a given

time period

2

Which of the following are equal to one another

I . aggregate production

II . aggregate expenditure

III . aggregate income

2

____D__ A

II equals III , but not I

B

I equals II , but not III . C

I equals III , but not II

D

I equals II equals III

3

If Nike , an American corporation , produces sneakers in Thailand this would

3

___A___ A

add to Thailand 's GDP but not to U .S . GDP . B

count as part of U .S . GDP since it is a U .S . corporation . C

add to neither U .S . GDP nor Thailand 's GDP . D

count for both Thailand 's GDP and U .S . GDP

4

In 2009 , Ozzie purchased a 1999 Ford Escort from his neighbor for his son , purchased a 1999 "one owner " Camry from Larchmont Toyota for his wife , bought a 2009 new Ford for himself , and sold his 1993 Dodge Caravan to his teenage nephew . Which , if any , of...

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