Multiple Questions Answers

Question 1
GDP is a less than perfect measure of economic well-being. It may be faulted for each of these practices EXCEPT that it:
A. does not take leisure time into account. 
B. involves multiple counting. 
C. does not take psychic costs into account. 
D. does not take psychic income into account. 

Question 2
Net domestic product is equal to:
A. gross national product. 
B. the inflation rate. 
C. national income (NI) plus corporate profits taxes. 
D. NI plus indirect business taxes. 

Question 3
We do NOT count __________ as part of GOP
A. price increases 
B. transfer payments 
C. final goods 
D. depreciation 

Question 4
About seven out of ten dollars of our GDP is spent on:
A. government purchases. 
B. net exports. 
C. investment spending. 
D. consumer goods.