Macroeconomics questions about GDP 8.Which of the following is classified as an intermediate good?i. Your purchase of a Big Mac. ii.McDonald's purchase of pickles.iii. A McDonald's restaurant owner's interest payment for their loan.A) ii onlyB) ii and iiiC) i, ii and iiD) i only9.Which of the following would NOT be directly included in Australia's GDP usingthe expenditure approach in 2021?A) Legal services provided to first- home buyers during 2021.B) The purchase of a new apartment in Docklands, Melbourne in 2021.C) The value of production in 2021 at a factory located in Geelong, Victoria.D) Fuel bought by the prime minister's office for its fleet of cars in 2021.10. Which of the following is included as investment in GDP?i. Cars produced during the year but unsold at the end of theNew capital equipment produced and purchased during the year.iii. Purchases of a company's shares and bonds.year.IiA) i and iiB) i, ii and iiiC) iii onlyD) i only11. Investment expenditure as part of GDP includesA) Cole's purchase of camera surveillance for all its stores.B) student purchases of laptops.C) your purchases of shares in BHP-Billiton.D) wages paid to police officers.

The items that are being used for the satisfaction of human needs and wants are known as goods.…

8. Which of the following is classified as an intermediate good? i. Your purchase of a Big Mac. ii. McDonald's purchase of pickles. iii. A McDonald's restaurant owner's interest payment for their loan. A) ii only B) ii and iii C) i, ii and ii D) i only

8. Which of the following is classified as an intermediate good? i. Your purchase of a Big Mac. ii. McDonald's purchase of pickles. iii. A McDonald's restaurant owner's interest payment for their loan. A) ii only B) ii and iii C) i, ii and ii D) i only

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter6: Tracking The U.s. Economy

Section: Chapter Questions

Problem 1.3P

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Question

Macroeconomics questions about GDP

8.
Which of the following is classified as an intermediate good?
i. Your purchase of a Big Mac. ii.
McDonald's purchase of pickles.
iii. A McDonald's restaurant owner's interest payment for their loan.
A) ii only
B) ii and iii
C) i, ii and ii
D) i only
9.
Which of the following would NOT be directly included in Australia's GDP using
the expenditure approach in 2021?
A) Legal services provided to first- home buyers during 2021.
B) The purchase of a new apartment in Docklands, Melbourne in 2021.
C) The value of production in 2021 at a factory located in Geelong, Victoria.
D) Fuel bought by the prime minister's office for its fleet of cars in 2021.
10. Which of the following is included as investment in GDP?
i. Cars produced during the year but unsold at the end of the
New capital equipment produced and purchased during the year.
iii. Purchases of a company's shares and bonds.
year.
Ii
A) i and ii
B) i, ii and iii
C) iii only
D) i only
11. Investment expenditure as part of GDP includes
A) Cole's purchase of camera surveillance for all its stores.
B) student purchases of laptops.
C) your purchases of shares in BHP-Billiton.
D) wages paid to police officers.

Branch of economics that analyzes the behavior and performance of an economy as a whole. It focuses on the study of aggregates and evaluates changes related to unemployment, gross domestic product, inflation, monetary and fiscal policies of the government.

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