Consumption spending includes: (Multiple Choice)

Consumption spending includes:
 a. durable goods, nondurable goods, and housing.
  b. durable goods, nondurable goods, and imports.
  c. durable goods, services, and housing.
  d. durable goods, nondurable goods, and services.
  e. nondurable goods, services, and housing.

QUESTION 2

GDP includes:
 a. the negative attributes from erosion and deforested landscape.
  b. all quality improvements resulting from higher quality goods replacing inferior goods.
  c. the cleaning-up expenses associated with pollution.
  d. the value of leisure time.
  e. the illegal activities related to the underground economy.

QUESTION 3

The unreported or illegal production of goods and services in the economy that is not counted in GDP is termed:
 a. money laundering.
  b. the underground economy.
  c. disposable personal income.
  d. indirect national income.
  e. unreported capital consumption.

QUESTION 4

Which of the following activities would be calculated as part of GDP accounts?
 a. Drug trafficking.
  b. Money laundry.
  c. Prostitution.
  d. Purchasing plastic surgery.
  e. Burglary.

QUESTION 5

Activities that are directly included in GDP accounts include:
 a. the value of housework done by householders.
  b. the selling of illegal drugs.
  c. unreported labor in sweatshops.
  d. buying a ticket to a Dodgers-Expos game on your day off.

QUESTION 6

The market value of all final goods and services in an economy produced by resources owned by people of that economy is:
 a. personal income.
  b. national income.
  c. capital income.
  d. gross national product.
  e. gross domestic product.