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Table of Contents
Macroeconomics Week 6 Assignment: GDP Week 6 Assignment: GDP
Assignment Content
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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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$1350
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$1450
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$1050
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$1750
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Question 2
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Consumption consists of spending by households on goods and services, with the exception of
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purchases of durable goods.
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purchases of new houses.
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spending on education.
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purchases of intangible services.
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Question 3
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Household spending on education is counted in which component or subcomponent of GDP?
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consumption of services
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investment
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consumption of durable goods
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consumption of nondurable goods
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Question 4
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Which of the following is not an example of a durable good?
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a furnace.
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a refrigerator.
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an automobile.
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a business suit.
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Question 5
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GDP is equal to
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the market value of all final goods and services produced within a country in a given period of time.
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All of the above are correct.
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C + I + G + NX.
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Y.
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Question 6
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Net exports equal
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GDP minus imports.
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exports plus imports.
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exports minus imports.
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imports minus exports.
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Question 7
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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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$1750
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$1350
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$1450
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$1050
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Question 8
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Which of the following is included in the investment component of GDP?
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John’s law firm buys him a new computer.
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All of the above are correct.
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Elaine pays her college tuition bill.
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Laura buys a bond that McDonald’s sells to raise funds
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