Which of the following is included in U.S. GDP?
i) the rental value of homes owned by U.S. citizens.
ii) the production of Suburban SUVs by GM in its plant in Mexico.
iii) Tickets sold by U2 for concerts held in the United States.
A) ii only.
B) ii and iii.
C) i, ii and iii.
D) i and iii.
E) i only.
Which of the following is NOT directly included in Canadian GDP?
A) The purchase of tickets to a Kanye West concert in Montreal.
B) The sale of tickets to the Vancouver Oympics to U.S. citizens.
C) Gasoline purchased by a tour bus operator in Quebec.
D) Bus tickets sold to tourists for a tour bus ride in Montreal.
E) All of the items would be included in Canadian GDP.
Which of the following is classified as a final good or service?
i. tires bought by GM to put on new Tahoes
ii. mustard bought by Subway to put on its sub sandwiches
iii. your purchase of online access to the Wall Street Journal
A) i and ii.
B) i, ii and iii.
C) iii only.
D) ii and iii.
E) ii only.
Which of the following correctly describes a final good?
i) A final good is bought by its final consumer.
ii) A final good can be used by a firm as a component of another good or service.
iii) Investment goods cannot be a final good.
A) i only.
B) i and ii.
C) i, ii and iii.
D) i and iii.
E) ii and iii.
A restaurant buys fish to offer as a daily menu special. The purchase of the fish by the restaurant is
A) a consumption expenditure.
B) an investment.
C) an intermediate good.
D) an example of government expenditures on goods and services.
E) part of net exports if the fish was caught beyond the U.S. border.
Which of the following is classified as an intermediate good?
i) the purchase of a Big Mac by a college student
ii) McDonald's purchase of pickles
iii) a McDonald's restaurant owner's interest payment for the loan on her building.
A) ii only.
B) ii and iii.
C) i only.
D) i and iii..
E) i, ii and iii.
Which of the following would NOT be directly included in the U.S. GDP in 2010?
A) the market value of restaurant meals sold in 2010
B) the market value of the jet fuel bought by Delta to use for its flights in 2010
C) the value of the automobiles produced in 2010 at the Toyota plant located in Georgetown, KY
D) legal services provided to first time home buyers during 2010
E) the purchase of a new home in Atlanta, Georgia in 2010
