Multiple Questions Answers

Question 1
Which statement is true?
A. GDP is a virtually perfect measure of national output. 
B. GDP takes into account pollution, crime, and even personal satisfaction. 
C. GDP is a single number that seeks to measure our national output. 
D. There is no relationship between our GDP and our national output. 

Question 2
Which of the following is an intermediate good or service?
A. A paint gun purchased by Handy Andy 
B. A dozen boxes of Girl Scout cookies purchased by your instructor 
C. A computer purchased by a farmer in Smallville, Kansas 
D. Glue purchased by McGraw-Hill to bind your textbook 

Question 3
__________ is the market value of a firm’s output less the value of the inputs the firm has bought from the previous seller.
A. Value added 
B. Net Domestic Product 
C. Real GDP 
D. Genuine Progress Index 

Question 4
Which is the smallest?
A. Net domestic product 
B. National income 
C. Government expenditures 
D. Net exports