Week 5 Quizzes - Eco/Gm 561

Topics: Unemployment Pages: 3 (356 words) Published: January 22, 2012
Week 5 Quizzes
ECO/GM 561

Your Results for: "Readiness Assessment Quiz"Print this page

Site Title:Economics UOP custom CW
Book Title:UOP-custom course for Economics
Book Author:Case
Summary of Results
100% Correct of 7 Scored items:
7 Correct: 100%
0 Incorrect: 0%

More information about scoring

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1. GDP includes all transactions in which money or goods change hands. Your Answer:False

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2. GDP is equal to the value of total sales in an economy. Your Answer:False

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3. I bought a record last year. I don't like it any more and am going to sell it to my cousin for $2. This sale should be included in GDP. Your Answer:False

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4. Consumption, investment, government purchases, and net exports are the four components of total expenditures. Your Answer:True

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5. Households have all of their personal income to spend or save. Your Answer:False

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6. When economists calculate nominal GDP it means they are calculating GDP only approximately. Your Answer:False

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7. Per capital GDP is a country's GDP divided by its population. Your Answer:True

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Your Results for: "Readiness Assessment Quiz"Print this page

Site Title:Economics UOP custom CW
Book Title:UOP-custom course for Economics
Summary of Results
100% Correct of 8 Scored items:
8 Correct: 100%
0 Incorrect: 0%

More information about scoring

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1. The twin evils of macroeconomics are unemployment and inflation. Your Answer:True

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2. Recessions last six months. Anything longer is called a depression. Your Answer:False...
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