The total market value of all final goods and services produced by resources owned by a country, regardless of where production takes place is Select one: O a. gross private domestic investment. b. gross national product. C. gross domestic product. d. national income.

B. The table below lists Jamaica's transactions in 2007. Particulars $ Consumers' expenditure 100 000 Government expenditure 40 000 Gross investment 37 000 Value of increase in stock 2 000 Exports of goods 18 000 Imports of goods 17 130 Income paid abroad 7 400 Income received from abroad 7 900 Subsidies 1 390 Taxes on expenditure 1 740 Capital consumption 5 500 Calculate: i. GDP at market price 11. GDP at factor cost iii. GNP at factor cost iv. National Income at factor cost C. Comment on THREE (3) types of information that national income statistics provide.

Table 1 Government Purchases $15 Consumption 90 Gross Investment 20 Consumption of Fixed Capital Exports 8 Imports 12 5. Refer to Table 1 (all figures in billions of dollars). NDP (net domestic product) is. a. $116. b. $121. c. $125. d. $150. 12

Please no written by hand The standard of living (per capita Real GDP) in the U.S.: a. increased in every decade from 1930 to 2010 except the 1930s and 1970s b. almost doubled between 1930 and 2010 c. Both of the above d. Neither of the above The standard of living (per capita Real GDP) in the U.S.: a. increased in every decade from 1930 to 2010 except the 1930s and 1970s b. almost doubled between 1930 and 2010 c. Both of the above d. Neither of the above

Personal income is national income minus Select one: a. depreciation. b. imports. c. the amount of national income not going to households. d. net factor income to the rest of the world.

Why is per capita gross domestic product (per capita GDP) better than gross domestic product (GDP) as a measure of a country's wealth? O Location and land mass have a large effect on GDP and must be considered in assessing a country's economy. O Because per capita GDP takes population into account, it is more useful for comparing the standard of living in different countries. O Per capita GDP provides information on income, while GDP only provides information on investment. O Per capita GDP includes the value of land, minerals, and crops not counted by normal GDP. The advantages of the sole proprietorship include O ease of start-up © full control ob business decisions © exclusive rights to profits © all of the above

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​Gross domestic product (GDP) is defined as the: A. value of all final goods and services produced in a country during a period of time​ B. ​value of all final goods produced by a country’s resources that are in foreign countries during a period of time. C. value of all final goods that can be produced in a country by utilizing all resources during a period of time. D. value of the income earned by the owners of resources in a country during a period of time E. value of all intermediate goods and services produced in a country during a period of time

QUESTION 28 In year one, real GDP is $4,500 and in year two real GDP is $4,800. What was the growth rate of real GDP between years one and two? OA. -approximately 7% OB-6, 25% OC 93.75% OD. approximately 15% QUESTION 29 The agency responsible for compiling the National Income Product Accounts for the U.S. economy is the O A. Bureau of Econamic Analysis O B. National Bureau of Cconomic Research OC Bureau of Labor Statistics O D.Council of Economic Advisors QUESTION 30 Which of the following is an example of a final good or service? OA. Paint purchased by Ford, Inc. used to paint their new fleet of Mustangs. OB. Beef bought by a restaurant owner from a wholesale food distributor. OCA brand new economics text book purchased by a PGCC student. O Jet Fuel bought by Northwest Airlines to power its fleet of planes. QUESTION 31 Which of the following is true about real GDP? O A. IL is always equal to nominal GDP O B. IL increases only when price increases OCIL increases only when output…

gross private domestic investment $1593 personal taxes 1113 transfer payments 1683 taxes on production & imports 695 corporate income taxes 213 personal consumption expenditures 7304 consumption of fixed capital 1393 US Exports 1059 dividends 434 government purchases 1973 net foreign factor 10 undistributed corporate profit 290 sociual security contributions 748 US imports 1483 statistical discrepency  50   Refer to the accompanying national income data (in billions of dollars) CORPORATE PROFITS are equal to?