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Chapter 23 /Measuring a Nation's Income ? 21
62. An American company operates a fast food restaurant in Paris, France. Which of the fol-lowing statements is accurate?
a. The value of the goods and services produced by the restaurant is included in both
French GDP and U.S. GDP.
b. The value added by American workers and equipment in France is included in U.S.
GDP and the value added by French workers and equipment is added to French GDP. c. The value of the goods and services produced by the restaurant is included in French
GDP, but not in U.S. GDP.
d. The value of the goods and services produced by the restaurant is included in U.S. GDP,
but not in French GDP.
ANS: C DIF: 3 REF: 10-2 NAT: Analytic
LOC: The study of economics and definitions in economics TOP: Domestic production MSC: Applicative
63. Michigan Tea Company sold $15 million worth of tea it produced. In producing this tea it
purchased $5 million dollars worth of ingredients from foreign countries and paid workers who reside in Canada but commute to the U.S. $1 million. How much did these transac-tions add to U.S. GDP? a. $21 million b. $15 million
c. $10 million（工人的工资不用减去？ d. $9 million ANS: C DIF: 3 REF: 10-2 NAT: Analytic LOC: The study of economics and definitions in economics TOP: Domestic production | Intermediate goods MSC: Analytical 64. Quality Motors is a Japanese-owned company that produces automobiles; all of its automo-biles are produced in American plants. In 2010 Quality Motors produced $30 million
worth of automobiles, with $17 million in sales to Americans, $9 million in sales to Cana-dians, and $4 million worth of automobiles added to Quality Motors’ inventory. The transactions just described contribute how much to U.S. GDP for 2010? a. $17 million b. $21 million c. $26 million
d. $30 million（算产出的时候，出口的也直接算了吗?） ANS: D DIF: 3 REF: 10-2 NAT: Analytic LOC: The study of economics and definitions in economics TOP: Domestic production | Inventory MSC: Analytical
65. Quality Motors is a Japanese-owned company that produces automobiles; all of its automo-biles are produced in American plants. In 2008, Quality Motors produced $25 million worth of automobiles and sold $12 million in the U.S. and $13 million in Mexico. In addi-tion, it sold $2 million from the previous year’s inventory in the U.S. The transactions just described contribute how much to U.S. GDP for 2008? a. $12 million b. $14 million c. $25 million d. $27 million ANS: C DIF: 3 REF: 10-2 NAT: Analytic
LOC: The study of economics and definitions in economics TOP: Domestic production MSC: Analytical
? 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
22 ? Chapter 23/Measuring a Nation's Income
66. Which of the following items is included in U.S. GDP?
a. goods produced by foreign citizens working in the United States
b. the difference in the price of the sale of an existing home and its original purchase price c. known illegal activities
d. None of the above is included in U.S. GDP. ANS: A DIF: 2 REF: 10-2 NAT: Analytic LOC: The study of economics and definitions in economics
TOP: Current production | Domestic production | Illegal goods MSC: Interpretive 67. Which of the following items is included in U.S. GDP?
a. final goods and services that are purchased by the U.S. federal government
b. intermediate goods that are produced in the U.S. but that are unsold at the end of the
GDP accounting period（计算GDP的时候还未卖出去的中间产物算入GDP） c. goods and services produced by foreign citizens working in the U.S. d. All of the above are included in U.S. GDP. ANS: D DIF: 2 REF: 10-2 NAT: Analytic LOC: The study of economics and definitions in economics TOP: Domestic production | Government purchases | Inventory MSC: Interpretive 68. Which of the following items is included in U.S. GDP?
a. the estimated value of production accomplished at home, such as backyard production
of fruits and vegetables
b. the value of illegally-produced goods and services
c. the value of cars and trucks produced in foreign countries and sold in the U.S. d. None of the above is included in U.S. GDP. ANS: D DIF: 2 REF: 10-2 NAT: Analytic LOC: The study of economics and definitions in economics TOP: Domestic production | Household chores | Inventory MSC: Applicative 69. Which of the following is not included in U.S. GDP?
a. unpaid cleaning and maintenance of houses
b. services such as those provided by lawyers and hair stylists c. the estimated rental value of owner-occupied housing d. production of foreign citizens living in the United States ANS: A DIF: 2 REF: 10-2 NAT: Analytic LOC: The study of economics and definitions in economics TOP: Domestic production | Household chores | Housing services MSC: Applicative
70. Which of the following is not included in U.S. GDP?
a. additions of newly produced output to inventory
b. production of U.S citizens working in foreign countries. c. the estimated rental value of owner-occupied housing
d. the value of food purchased from a grocery store to make meals at home without pay ANS: B DIF: 2 REF: 10-2 NAT: Analytic LOC: The study of economics and definitions in economics
TOP: Domestic production | Inventory | Household chores | Housing services MSC: Applicative
? 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Chapter 23 /Measuring a Nation's Income ? 23
71. Which of the following values would be included in U.S. GDP for 2009?
a. the rent that Sean, an American citizen, would have paid on his home in New York in
2009 had he not owned that home（如果他不自己住）
b. the rent that John, an American citizen, paid on his apartment in San Francisco in 2009 c. the value of the legal services provided by Juan, an attorney and a Mexican citizen, who
lived in Houston and practiced law there in 2009
d. All of the above would be included in U.S. GDP for 2009. ANS: D DIF: 2 REF: 10-2 NAT: Analytic LOC: The study of economics and definitions in economics TOP: Housing services | Domestic production MSC: Applicative 72. Which of the following examples of production of goods and services would be included in
U.S. GDP?
a. Samantha, a Canadian citizen, grows sweet corn in Minnesota and sells it to a grocery
store in Canada.（看清地址）
b. Ian, an American citizen, grows peaches for his family in the back yard of their Atlanta
home.
c. Leo, an American citizen, grows marijuana in his Seattle home and sells it to his friends
and neighbors.
d. None of the above examples of production would be included in U.S. GDP. ANS: A DIF: 2 REF: 10-2 NAT: Analytic LOC: The study of economics and definitions in economics
TOP: Domestic production | Household chores | Illegal goods MSC: Applicative
73. Which of the following transactions adds to U.S. GDP for 2010?
a. In 2010, Ashley sells a car that she bought in 2006 to William for $5,000.
b. An American management consultant works in Mexico during the summer of 2010 and
earns the equivalent of $30,000 during that time.
c. When John and Jennifer were both single, they lived in separate apartments and each
paid $750 in rent. John and Jennifer got married in 2010 and they bought a previously unoccupied house that, according to reliable estimates, could be rented for $1,600 per month.
d. None of the above transactions adds to U.S. GDP for 2010. ANS: C DIF: 2 REF: 10-2 NAT: Analytic LOC: The study of economics and definitions in economics TOP: Current production | Domestic production | Housing services MSC: Applicative
? 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
24 ? Chapter 23/Measuring a Nation's Income
74. Which of the following transactions adds to U.S. GDP for 2010?
a. In 2010, Marvin Windows manufactures 20 windows that will eventually be installed in
an office building in Minneapolis. The windows remain in Marvin’s inventory at the end of 2010.
b. An Irish marketing consultant works in Boston during the summer of 2010 and earns
$50,000 during that time.
c. When Tim and Tina were both single, they lived in separate apartments and each paid
$750 in rent. Tim and Tina got married in 2010 and they bought a previously
unoccupied house that, according to reliable estimates, could be rented for $1,550 per month.
d. All of the above transactions add to U.S. GDP for 2006. ANS: D DIF: 2 REF: 10-2 NAT: Analytic LOC: The study of economics and definitions in economics TOP: Domestic production | Inventory MSC: Applicative
75. The government of a country, which has adopted American GDP accounting conventions,
reported that seasonally adjusted GDP in quarter 3 was $12 billion at an annual rate（年度）. This means that the seasonally-adjusted market value of all final goods and services pro-duced within this country in quarter 3 （第三季度）was a. $3 billion. b. $4 billion. c. $12 billion. d. $48 billion. ANS: A DIF: 2 REF: 10-2 NAT: Analytic LOC: The study of economics and definitions in economics TOP: Annual rate MSC: Applicative
76. The government of country A, which has adopted American GDP accounting conventions,
has calculated that the seasonally-adjusted market value of all final goods and services pro-duced within country A in quarter 1 was $5 billion. The government will report that GDP in quarter 1 was
a. $1.25 billion at an annual rate. b. $4 billion at an annual rate. c. $5 billion at an annual rate. d. $20 billion at an annual rate. ANS: D DIF: 2 REF: 10-2 NAT: Analytic LOC: The study of economics and definitions in economics TOP: Annual rate MSC: Applicative
77. The statistical discrepancy（统计误差） that regularly arises in national income accounting
refers to the slight difference between
a. personal income and personal disposable income. b. estimates of GDP and actual GDP.
c. the income and expenditure approaches to the calculation of GDP. d. the quarterly and annual approaches to the calculation of GDP. ANS: C DIF: 2 REF: 10-2 NAT: Analytic
LOC: The study of economics and definitions in economics TOP: Statistical discrepancy MSC: Interpretive
? 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.