Macro Chapter 5
Quiz
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Business
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University
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Practice Problem
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Easy
Kenneth Kunkel
Used 2+ times
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term refers to the total market value of all final goods and services produced within a country in a given period?
Net exports
Gross domestic product
Capital good
Value added
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the definition of "market value" in macroeconomics?
The price of intermediate goods only
The total value of goods and services measured in monetary terms
The value of goods produced for export
The cost of labor in production
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes "final goods or services"?
Goods used to produce other goods
Goods and services purchased by the end user
Goods sold to other firms for further processing
Goods that are resold in the market
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are "intermediate goods or services"?
Goods used directly by consumers
Goods used in the production of final goods
Goods that are exported to other countries
Goods that are counted in GDP
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A "capital good" is best defined as:
A good consumed immediately
A good used to produce other goods and services
A good imported from abroad
A good that is not included in GDP
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is the correct definition of "value added"?
The total sales revenue of a firm
The difference between a firm's sales and the cost of intermediate goods
The total cost of labor in production
The sum of all final goods produced
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
"Consumption expenditure" refers to:
Spending by businesses on capital goods
Spending by households on goods and services
Spending by the government on public goods
Spending on exports
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