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non-income expense items included in the GDP calculation include A) depreciation and indi

non-income expense items included in the GDP calculation include

A) depreciation and indirect business taxes.

B) depreciation and corporate profits.

C) corporate profits tax and indirect business taxes.

D) indirect business taxes and corporate profits.

72) If consumption expenditures are $500, spending on fixed investment is $100, imports are $40, exports are $75, the capital consumption allowance is $25, government spending is $50, and inventories have fallen by $5, then GDP is

A) $25 greater than NDP.

B) $20 greater than NDP.

C) $50 greater than NDP.

D) the same as NDP.

73) If NDP is $50 less than GDP, we know that

A) inventories increased over the year.

B) inventories decreased over the year.

C) net investment equals $50.

D) depreciation equals $50.

 

74) The total factor payments to all resource owners is

A) net domestic product.

B) personal income.

C) national income at factor cost.

D) gross domestic income.

 

75) Suppose gross domestic product is $5 billion, government business transfer payments are $1 billion, indirect business taxes are $0.5 billion, and depreciation is $0.5 billion. Then national income equals

A) $5 billion.

B) $4 billion.

C) $3 billion.

D) $2.7 billion.

 

76) The difference between net domestic product and national income is that

A) net domestic product includes depreciation.

B) national income includes government and business transfer payments.

C) net domestic product includes indirect business taxes.

D) net domestic product doesn't include social security taxes or corporate retained earnings.

77) Which of the following is a component of net domestic product, but NOT of national income?

A) capital consumption allowance

B) indirect business taxes

C) corporate taxes

D) personal taxes

 

78) Disposable personal income is found by taking

A) personal income taxes minus personal income.

B) personal income minus personal income taxes.

C) personal income taxes plus personal income.

D) personal income times personal income taxes.

 

79) Personal income is equal to

A) NDP minus national income.

B) disposable personal income plus personal income taxes.

C) disposable personal income plus personal and corporate income taxes.

D) national income minus corporate income taxes and social security.

 

80) Suppose the total value of all assets in Canada is $10 billion. In 1993, the total value of all final services produced in Canada was $100 million, the total value of all final goods produced in Canada was $300 million, and the total value of all final goods and services produced by Canadian firms in other countries was $100 million. In this situation, gross domestic product for 1993 was

A) $600 million.

B) $500 million.

C) $400 million.

D) $10.4 billion.

Dec 07 2019 View more View Less

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