d.
$4400
88. In the economy of Talikastan in 2015, consumption was $3000, exports were $400, GDP was $5000, imports were
$500, and investment was $1400. What were Talikastan’s government purchases in 2015?
a.
$60
b.
$500
c.
$700
d.
$1500
89. In the economy of Talikastan in 2015, consumption was $4000, exports were $800, GDP was $7500, imports were
$200, and investment was $1000. What were Talikastan’s government purchases in 2015?
a.
$1200
b.
$1900
c.
$2500
d.
$4500
90. In the economy of Talikastan in 2015, consumption was $200, exports were $150, GDP was $475, government
purchases were $100, imports were $75, and investment was $100. What were Talikastan’s net exports in 2015?
a.
–$75
b.
–$225
c.
$225
d.
$75
91. In the economy of Talikastan in 2015, consumption was $800, GDP was $2000, government purchases were $400,
and investment was $600. What were Talikastan’s net exports in 2015?
a.
b.
c.
d.
92. In the economy of Talikastan in 2015, consumption was $1000, GDP was $1950, government purchases were $500,
and investment was $700. What were Talikastan’s net exports in 2015?
a.
b.
c.
d.
93. In the economy of Talikastan in 2015, consumption was $5300, GDP was $8800, government purchases were $1800,
imports were $600, and investment was $2000. What were Talikastan’s exports in 2015?
a.
–$900
b.
–$600
c.
$200
d.
$300
94. In the economy of Talikastan in 2015, consumption was $3000, GDP was $5500, government purchases were $1000,
imports were $1000, and investment was $1000. What were Talikastan’s exports in 2015?
a.
–$500
b.
$500
c.
$1500
d.
$-1500
95. In the economy of Talikastan in 2015, consumption was $3000, exports were $1200, GDP was $6300, government
purchases were $1300, and investment was $1500. What were Talikastan’s imports in 2015?
a.
–$500
b.
–$700
c.
$700
d.
$500
96. In the economy of Talikastan in 2015, consumption was $600, exports were $300, GDP was $1300, government
purchases were $250, and investment was $300. What were Talikastan’s imports in 2015?
a.
–$150
b.
–$200
c.
$200
d.
$150
97. In the economy of Talikastan in 2015, consumption was two-thirds of GDP, government purchases were $1000 more
than investment, investment was one-ninth of GDP, and the value of exports exceeded the value of imports by $500. What
was Talikastan’s GDP in 2015?
a.
$1688
b.
$9000
c.
$13,500
d.
$15,000
98. In the economy of Talikastan in 2015, consumption was 75% of GDP, government purchases were $200, imports were
$50 and 125% of the value of exports, investment was one-sixth of the value of consumption. What was Talikastan’s GDP
in 2015?
a.
$218
b.
$2500
c.
$1520
d.
$2100
Table 23-2
The table below contains data for country A for the year 2010.
Household purchases of durable goods
$1293
Household purchases of nondurable goods
$1717
Household purchases of services
$301
Household purchases of new housing
$704
Purchases of capital equipment
$310
Inventory changes
$374
Purchases of new structures
$611
Depreciation
$117
Salaries of government workers
$1422
Government expenditures on public works
$553
Transfer payments
$777
Foreign purchases of domestically produced goods
$88
Domestic purchases of foreign goods
$120
99. Refer to Table 23–2. What was country A’s GDP in 2010?
a.
$6359
b.
$7136
c.
$7253
d.
$8147
100. Refer to Table 23–2. What was country A’s consumption in 2010?
a.
$2018
b.
$3010
c.
$3311
d.
$4015
101. Refer to Table 23–2. What was country A’s investment in 2010?
a.
$1178
b.
$1295
c.
$1882
d.
$1999
102. Refer to Table 23–2. What were country A’s government purchases in 2010?
a.
$553
b.
$1198
c.
$1975
d.
$2752
103. Refer to Table 23–2. What were country A’s exports in 2010?
a.
–$32
b.
$32
c.
$88
d.
$120
104. Refer to Table 23–2. What were country A’s imports in 2010?
a.
–$32
b.
$32
c.
$88
d.
$120
105. Refer to Table 23–2. What were country A’s net exports in 2010?
a.
–$32
b.
$32
c.
$88
d.
$120
Table 23-3
The table below contains data for the country of Crete for the year 2010.
Total income
$5731
Household purchases of durable goods
$1108
Household purchases of nondurable goods
$702
Household purchases of non-education services
$203
Household purchases of education services
$302
Household purchases of new housing
$816
Purchases of capital equipment
$333
Inventory changes
$75
Purchases of new structures
$267
Depreciation
$401
Local government spending on goods and services
$236
State government spending on goods and services
$419
Federal government spending on goods and services
$1182
Transfer payments
$707
Foreign purchases of domestically produced goods
$217
Domestic purchases of foreign goods
$129
106. Refer to Table 23–3. What was Crete’s GDP in 2010?
a.
$4623
b.
$5731
c.
$6037
d.
$6839
107. Refer to Table 23–3. What was Crete’s consumption in 2010?
a.
$1810
b.
$2013
c.
$2315
d.
$3131
108. Refer to Table 23–3. What was Crete’s investment in 2010?
a.
$675
b.
$1090
c.
$1491
d.
$1793
109. Refer to Table 23–3. What were Crete’s government purchases in 2010?
a.
$1130
b.
$1601
c.
$1837
d.
$2544
110. Refer to Table 23–3. What were Crete’s net exports in 2010?
a.
–$217
b.
–$88
c.
$88
d.
$217
111. In 2015, U.S. GDP was almost
a.
$18 trillion.
b.
$15 trillion.
c.
$14 trillion.
d.
$12 trillion.
112. In 2015, GDP per person in the United States was almost
a.
$38,000.
b.
$36,000.
c.
$49,000
d.
$56,000
113. In the United States in 2015, consumption represented slightly less than
a.
60 percent of GDP.
b.
70 percent of GDP.
c.
80 percent of GDP.
d.
90 percent of GDP.
114. In the United States in 2015, purchases of capital equipment, inventories, and structures represented approximately
a.
3 percent of GDP.
b.
7 percent of GDP.
c.
15 percent of GDP.
d.
17 percent of GDP.
115. In the United States in 2015, government purchases of goods and services were
a.
larger than consumption, but smaller than investment.
b.
larger than investment, but smaller than consumption.
c.
smaller than both consumption and investment.
d.
larger than both consumption and investment.
116. In 2015, U.S. net exports were
a.
positive and about 3 percent the size of GDP.
b.
positive and about 6 percent the size of GDP.
c.
negative and about 3 percent the size of GDP.
d.
negative and about 6 percent the size of GDP.
117. Suppose that you are planning to buy a new cellphone. Your choice is a new Samsung phone or HTC model.
Samsung phones are manufactured in Korea and HTC phones are manufactured in Taiwan. Assuming that the price of
each phone is the same, will your purchase of the Samsung or the HTC affect U.S. GDP differently?
a.
No, both have the same impact: your purchase will increase consumption expenditures and decrease net
exports by the same amount.
b.
Yes. This depends upon which cellphone carrier you choose.
c.
No, because Samsung’s production only affects Korea’s GDP; and HTC’s production only impacts Taiwan’s
GDP.
d.
Yes. The country from which a product is imported has different effects on U.S. GDP because it depends
upon trade agreements with the countries.
118. Apple releases a new iPhone. Which of the following components of U.S. GDP will not be affected, given that the
iPhone is manufactured in China?
a.
It will increase U.S. net exports, since a U.S. corporation makes the iPhone.
b.
It will increase consumptions expenditures when U.S. consumers purchase new iPhones.
c.
It will increase investment, since Apple places some of the iPhones in to its inventory.
d.
It will increase government expenditures, since some iPhones are purchased by the federal government.
119. Which of the following are not consumer durable goods?
a.
Automobiles.
b.
Washing machines.
c.
Air conditioners.
d.
Paperback books.
120. GDP and GNP are identical when
a.
exports and imports exactly balance.
b.
all domestic production is by domestically owned producers and no foreign production is carried out by
domestic producers.
c.
production by domestic producers in other countries is greater than production by foreign producers
domestically.
d.
there are no taxes.
121. Which of the following measures includes the effects of taxes?
a.
Net national product.
b.
Gross national product.
c.
National income.
d.
Personal income.