economics help?
41. The objective of industrial policy is a. unclear, since the policy has no economic basis b. to restore the primacy of mature industries, such as steel and automobile production c. to spread manufacturing industry more evenly across the nation d. to encourage economic development in poorer nations e. to give domestic industry an advantage over foreign competitors 42. The concept of "clustering" refers to a. locating new firms in a geographic area where competitive firms have not located b. locating new firms in a geographic area where many other firms have already located c. locating new firms in a geographic area already thick with firms in the same or related industries d. encouraging established firms to relocate to the South and Northeast e. encouraging workers to move nearer to their employers 43. The economic theory that states that as time passes, economic systems become much more similar, with common rates of growth, common employment levels and common rates of inflation is known as a. divergence theory b. parallel path theory c. convergence theory d. non-competing economic systems theory e. static state theory 44. In double-entry GDP accounting, a. the value of output produced must equal the value of resource payments generated in producing that output b. government is not counted because most of government spending is for transfer payments c. payments to resources must equal the value of goods sold to households d. inventories are counted twice, once as investment and once as output e. intermediate goods are counted twice, once as a type of output themselves and once as part of final output 45. Gross Domestic Product equals the a. total output of all goods and services produced by resources located in the U.S. b. market value of all goods and services produced by resources located in the U.S. c. market value of all final goods and services produced by resources located in the U.S. d. value added to the economy by intermediate goods and services minus original cost e. value of total sales of goods and services produced in the U.S. 46. Which of the following best describes an intermediate good? a. It has no value to the seller. b. It has no value to the buyer. c. It is purchased by a household for future use. d. It helps produce another good. e. It is sold at a discounted price by middlemen. 47. Which of the following is the best example of an intermediate good or service? a. any good bought by a household, rather than a firm b. pizzas bought at a restaurant c. legal services hired by a public accounting firm d. sunglasses worn on a summer vacation in Florida e. a professional performance of "The Phantom of the Opera" 48. Which of the following would not be included in GDP as a form of consumption spending? a. Ann takes Tim out to a restaurant for dinner. b. Ann and Tim buy a microwave oven. c. Ann and Tim buy vegetables to prepare soup at home. d. Ann prepares Tim's income tax return. e. Tim buys Ann flowers. 49. Which of the following expenditures are not included in the consumption component of GDP? a. maid service b. purchase of a new home c. a new videocassette recorder d. a restaurant meal e. tax preparation service 50. Other things equal, increased imports decrease GDP. a. True b. False 51. U.S. imports are a. not added to U.S. GDP because they are produced abroad b. added to U.S. GDP because they are consumed domestically c. added to U.S. GDP because they represent an increase in inventories d. added to U.S. GDP as government purchases because the government decides what goods may be imported e. not added to U.S. GDP because they are intermediate goods 52. Use the following data to calculate GDP: consumption = $2,000; gross investment = $600; government purchases = $500; net exports = -$40; transfer payments = $340. a. GDP = $2,720 b. GDP = $3,060 c. GDP = $3,140 d. GDP = $3,400 e. GDP cannot be determined due to insufficient data 54. Katrina pays $40 for a meal at a fancy restaurant. The ingredients used in it probably cost the restaurant $10. The value added to GDP by the purchase of this meal is a. $30 b. $40 c. $70 d. $40 plus the wages paid the chef and waiters e. $40 plus the profit earned by the restaurant's owner 55. In the resource market, a. businesses borrow money to buy the capital resources they need b. businesses sell services to the households c. firms provide the resources to the households d. households sell the resources to firms in return for factor payments e. resources flow from the business sector to the household sector
Public Comments
- wow? are you serious girl? Do your own studies
