Question

How does the expenditure approach calculate GDP?



B. It adds up the value of four groups of final goods and services.

C. It adds up the value of business goods and services.

D. It adds up the value of consumer goods and services.

Answer 1

2) Which of the following is a main economic variable that affects business cycles?

A. stagflation

B. national income accounting

C. interest rates

D. personal savings

3)Products that would be used in calculating the United States GDP include

A. toys manufactured in China at a factory owned by a U.S. company.

B. cars manufactured in Tennessee at a factory owned by a Japanese automobile company.

C. plastic manufactured in a factory in Kentucky and sold to toy manufacturers around the world to make plastic toys.

D. cotton cloth manufactured in India and sold to clothes makers in the United States.

4)Which of the following is an example of money as a unit of account?

A. purchasing a remote-controlled toy on sale for $8.99

B. lending your best friend $25.00 to buy a guitar

C. opening a savings account at a bank that pays high interest

D. comparing camera prices at different store before buying one

5)What is one of the major problems caused by a high national debt?

A. It prevents the federal government from balancing the budget.

B. Money spent on servicing the debt causes prices to rise.

C. It prevents foreign governments from investing in U.S. businesses.

D. Money spent on servicing the debt cannot be spent on other things.

6)Why is the inside lag for monetary policy shorter than for fiscal policy?

A. Congress and the President can act quickly to change monetary policy.

B. The Federal Open Market Committee must get Congressional approval.

C. It can take a long time for new government spending to take effect.

D. The Federal Open Market Committee can act almost immediately.

Answer 2

I think you should try first. If we give you the answers, it might get you a good grade for this assignment. But what happens when the exam comes and you don't know the answer because somebody did your homework for you?

Answer 3

i already took the exam. so these questions are the ones that i got wrong. :D

Answer 4

Hmm... pick an answer and justify it first, then I'll come back and help you. Deal? :)

Answer 5

Sure! ^_^

Answer 6

but it'll take me a while :D i'll post it when im done ok? thanx!

Answer 7

1) B. It adds up the value of four groups of final goods and services.
2)C. interest rates
3)B. cars manufactured in Tennessee at a factory owned by a Japanese automobile company.
4)D. comparing camera prices at different store before buying one
5)C. It prevents foreign governments from investing in U.S. businesses.
6)D. The Federal Open Market Committee can act almost immediately.

:)

Answer 8

@Hally are these the answers that you got wrong? because I took the test but i got the same ones wrong

Answer 9

The main job of the Office of Management and Budget is to