The GDP is the value of all final goods and servicesproduced:
A. within the nations boundaries. 
B. by domestically owned companies. 
C. by citizens of the country. 
D. by domestically controlled companies. 
Net domestic product is usually preferred to GDP by economistsbecause net national product:
A. includes depreciation. 
B. excludes depreciation. 
C. includes indirect business taxes. 
D. excludes indirect business taxes. 
The largest item amount among those listed here is:
A. national income. 
B. net interest. 
C. net domestic product. 
D. corporate profits. 
Which is NOT counted in GDP?
A. A Social Security check sent to a retiree 
B. Government spending on highway building 
C. Money spent on an airline ticket 
D. Money spent by a company to build a new office park 
The smallest component of national income is:
A. rent. 
B. interest. 
C. profits. 
D. salaries and wages. 
GDP is a less than perfect measure of economic well-being. It maybe faulted for each of these practices EXCEPT that it:
A. does not take leisure time into account. 
B. involves multiple counting. 
C. does not take psychic costs into account. 
D. does not take psychic income into account. 
Net domestic product is equal to:
A. gross national product. 
B. the inflation rate. 
C. national income (NI) plus corporate profits taxes. 
D. NI plus indirect business taxes. 
We do NOT count __________ as part of GOP
A. price increases 
B. transfer payments 
C. final goods 
D. depreciation 
About seven out of ten dollars of our GDP is spent on:
A. government purchases. 
B. net exports. 
C. investment spending. 
D. consumer goods. 
The value actually earned by members of households who supply theinputs necessary to produce GDP is called:
A. net investment. 
B. national income 
C. personal income. 
D. disposable income.

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