Chapter 21 Quiz Questioins
Last Modified: 2013-04-29
Which of the following is classified as an intermediate good?
i.the purchase of a Big Mac by a college student
ii.McDonald's purchase of pickles
iii.a McDonald's restaurant owner's interest payment for the loan on her building
does not change
As measured, GDP omits which of the following?
i.Illegal sales of goods and services
ii.Changes in the amount of leisure time.
iii.Household production of goods and services
An increase in nominal GDP could result from an increase in
iii. taxes and subsidies
can measure either total expenditure or total income
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