Incorrect choice130.62 billion dollarsXIncorrectchoice12,623 billion dollars√Correct choice13,062billion dollarsXIncorrect choice13,796 billiondollarsXIncorrect choice14,499 billion dollars
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p. 187 might a decrease in sales of new cars indicate about the state of the economy?Correct Answer(s)GDP is going to decrease in the near future.The economy is weak.Incorrect Answer(s)The economy is strong.GDP rose in the recent past.p. 187 Which of the following are examples of investment?InvestmentA professional painter buys new brushes.A mechanic buys a new wrench.A photojournalist buys a new camera.Not investmentYour neighbor buys a new television.Your friend buys a new set of golf clubs.p. 185Identify each good as either intermediate or Fnal.Lenses bought by a camera manufacturerTires used in car manufactureA memory card bought by a photographerTires bought by a driver for her personal vehicleIntermediate±inal
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p. 192 Which of the following statements are good assessments of the value of GDP as an economic statistic?Correct Answer(s)Nominal GDP cannot indicate whether the economy is getting stronger or weaker.GDP is correlated with many measures of human welfare.Incorrect Answer(s)GDP does not account for goods being imported rather than locally produced.GDP accurately captures all economic activity.In the graph, click on the start and end points of a period of recession or contraction.You must click or tap at least one more area to complete the question.p. 196 Fill in the blanks to complete the passage explaining why GDP is not always the best measure of acountry’s well-being.GDP is the best measure of a nation’s economic activity.However, GDP does not take into account many factors that a±ect quality of life, like the amount of people’s
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leisure timeor the cleanliness of the environment. GDPonly measures a country’s economic outputp. 179 recessions always prevent a long-term increase in a nation’s real GDPYes; recessions cause high inFation.
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