Accounting Homework

Assignment Content

1. Question 1

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   In the economy of Talikastan in 2015, consumption was $700, exports were $200, government purchases were $300, imports were $150, and investment was $400. What was Talikastan’s GDP in 2015?

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   1. $1350

   2. $1450

   3. $1050

   4. $1750

2. Question 2

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   Consumption consists of spending by households on goods and services, with the exception of

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   1. purchases of durable goods.

   2. purchases of new houses.

   3. spending on education.

   4. purchases of intangible services.

3. Question 3

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   Household spending on education is counted in which component or subcomponent of GDP?

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   1. consumption of services

   2. investment

   3. consumption of durable goods

   4. consumption of nondurable goods

4. Question 4

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   Which of the following is not an example of a durable good?

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   1. a furnace.

   2. a refrigerator.

   3. an automobile.

   4. a business suit.

5. Question 5

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   GDP is equal to

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   1. the market value of all final goods and services produced within a country in a given period of time.

   2. All of the above are correct.

   3. C + I + G + NX.

   4. Y.

6. Question 6

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   Net exports equal

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   1. GDP minus imports.

   2. exports plus imports.

   3. exports minus imports.

   4. imports minus exports.

7. Question 7

   / 12.5

   In the economy of Talikastan in 2015, consumption was $700, exports were $200, government purchases were $300, imports were $150, and investment was $400. What was Talikastan’s GDP in 2015?

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   1. $1750

   2. $1350

   3. $1450

   4. $1050

8. Question 8

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   Which of the following is included in the investment component of GDP?

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   1. John’s law firm buys him a new computer.

   2. All of the above are correct.

   3. Elaine pays her college tuition bill.

   4. Laura buys a bond that McDonald’s sells to raise funds