Part III. True or False: GDP and its components. Read the statement below and determinewhether the statement is True or False.1.GDP measures the nation's economic well-being.2.Consumption is the amount of supply and demand purchased by household.3.Investments are the amount of money spent by a business on productive resources.4.The purchase of old machines and old factories are examples of investments.Net exports involves both Import and Exported goods.5. 6.Exports means goods being shipped to other countries.7.Imports means good being shipped to other countries.8.Government spending is the amount of money the government spends on new homesfor consumers.9.Food purchases, vacations, haircuts, clothing, are examples of Exports.10. The U.S. government hires 10 Chinese language experts from China to train U.S. workersis an example of Government Spending.

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1. GDP measures the nation's economic well-being. 2. Consumption is the amount of supply and demand purchased by household. 3. Investments are the amount of money spent by a business on productive resources.

1. GDP measures the nation's economic well-being. 2. Consumption is the amount of supply and demand purchased by household. 3. Investments are the amount of money spent by a business on productive resources.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter15: Measuring A Nation's Income

Section: Chapter Questions

Problem 4CQQ

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Question

Part III. True or False: GDP and its components. Read the statement below and determine
whether the statement is True or False.
1.
GDP measures the nation's economic well-being.
2.
Consumption is the amount of supply and demand purchased by household.
3.
Investments are the amount of money spent by a business on productive resources.
4.
The purchase of old machines and old factories are examples of investments.
Net exports involves both Import and Exported goods.
5.

6.
Exports means goods being shipped to other countries.
7.
Imports means good being shipped to other countries.
8.
Government spending is the amount of money the government spends on new homes
for consumers.
9.
Food purchases, vacations, haircuts, clothing, are examples of Exports.
10. The U.S. government hires 10 Chinese language experts from China to train U.S. workers
is an example of Government Spending.

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