1、Chapter4Student:___________________________________________________________________________1.Themostcommonlyusedmeasureofaneconomy'soutputis: A. therateofemployment.B. therateofinflation.C. grossdomesticproduct.D. theDowJonesstockmarketindex 2.Grossdomesticproduct(GDP)equalsthe______offinal______pr
2、oducedwithinacountryduringagivenperiodoftime. A. marketvalue;goodsB. marketvalue;servicesC. marketvalue;goodsandservicesD. quantity;goodsandservices 3.Themarketvalueoffinalgoodsandservicesproducedwithinacountryduringaperiodoftimeiscalled: A. guaranteeddirectprices.B. generaldomesticproductivity.C.
3、 governmentdocumentedproduction.D. grossdomesticproduct. 4.GDPisameasureofaneconomy's: A. domesticpricelevel.B. levelofunemployment.C. totaloutput.D. domesticproductivity. 5.______is/arethemarketvalueoffinalgoodsandservicesproducedwithinacountryduringagivenperiodoftime. A. GDPB. ConsumptionC. Valu
4、eaddedD. Transferpayments 6.Wheneconomistsusemarketvaluestoaggregateoutput,theysumthe: A. numberofitemsproduced.B. quantityofitemsproduced.C. pricetimesthequantityofeachitemproduced.D. inputsofeachitemproduced. 7.Iftotaloutputiscalculatedbyaddingupthemarketvalueofgoodsandservicesproduced,thenmoreex
5、pensiveitems: A. receivethesameweightascheaperitems.B. receiveagreaterweightthancheaperitems.C. receiveasmallerweightthancheaperitems.D. aredoublecounted. 8.Ifaneconomyproduces3millionorangesthatsellfor$0.25eachand100,000carsthatsellfor$25,000each,thenwhenthemarketvalueoftotaloutputiscalculated: A