True False Questions1. Aggregate accounting enables us to measure and analyze how much a nation is...

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True False Questions1. Aggregate accounting enables us to measure and analyze how much a nation is producing and consuming. True False2. Gross domestic product (GDP) is the total market value of the final goods and services produced by an economy in a one-year period. True False3. To compute GDP, you must add up the value of all the goods and services produced in a country in a year. True False4. Your visit to the dentist, college tuition, and any commissions earned by a used car salesman are all included in GDP. True False5. Gross domestic product (GDP) can be calculated using either the expenditure method or the income method. True False6. Gross domestic product equals the sum of consumption, investment, and government purchases. True False

David · Accepted Answer

True or False 
Solution 1 
True 
Solution 2 
True 
Solution 3 
False. We add the value of only final goods and services while computing GDP 
Solution 4 
True 
Solution 5 
True 
Solution 6 
True 
Solution 7 
False. Other human development indicators like education level, life expectancy etc should also 
be taken into account. 
Solution 8 
False.  Nominal GDP and Real GDP are equal for the base year. 
Solution 9 
True 
Solution 10 
True 
Multiple choice Questions 
Solution 11 
B. 
Solution 12 
D. 
Solution 13 
A.
Solution 14 
A. 
Solution 15 
B 
Solution 16 
C. 
Solution 17 
D. 
Solution 18 
D. 
Solution 19 
A. 
Solution 20 
C. 
Solution 21 
B. 
Solution 22 
B 
Solution 23 
A. 
Solution 24 
D. 
Solution 25 
C. 
Solution 26 
D. 
Solution 27 
B. Because FDI is not included in net factor income. 
Solution 28 
B 
Solution 29 
C. 
Solution 31 
A 
Solution 32 
C. 
Solution 33 
C. 
Solution 34 
A. 
Solution 35 
B 
Solution 36 
A.
Solution 37 
A 
False. Other human development indicators like education level, life expectancy etc should also be taken 
into account. 
Solution 38 
C 
Solution 39 
B. 
Solution 40 
A.

True False Questions 1. Aggregate accounting enables us to measure and analyze how much a nation is producing and consuming. True False 2. Gross domestic product (GDP) is the total market value of the...

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