19. If a nation\'s imports exceed its exports: A) net exports will be positive.

Question

19. If a nation's imports exceed its exports: A) net exports will be positive. B) GDP will be less than the sum of consumption, investment, and government purchases. C) GDP will be greater than the sum of consumption, investment, and government purchases. D) none of the above apply.

20. Government purchases, under the expenditure approach to GDP accounting, do not include: A) state government purchases of plumbing services. B) Social Security benefit payments to retirees. C) the salaries of military officers. D) federal government purchases of computers.

21. Government purchases, under the expenditure approach to GDP accounting, includes all of the following except: A) welfare payments. B) salaries of senators. C) fighter jets purchased by the government. D) the military payroll.

22. The purchase of a new scanner by a computer graphics business is included in which expenditure category of GDP? A) consumption B) investment C) government purchases D) net exports E) none of the above

Explanation / Answer

d a b c

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