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AP Macroeconomics Unit 2 Progress Check MCQ Exam Questions and Answers
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AP Macroeconomics Unit 2 Progress Check MCQ Exam Questions and Answers
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AP Macroeconomics Unit 2 ProgressCheck: MCQ Exam Questions and
Answers
Which iistatement iiis iitrue iiabout iithe iicircular iiflow iidiagram iiof iian iieconomy?
A) iiThe iimarket iifor iigoods iiand iiservices iiconnects iihousehold iispending iito
iigovernment iispending.
B) iiThe iimarket iifor iifactors iiof iiproduction iiconnects iihousehold iispending iito iigoods
iiproduced iiby iifirms.
C) iiThe iimarket iifor iifactors iiof iiproduction iiconnects iispending iiby iifirms iito iihousehold
iiincome.
D) iiThe iimarket iifor iigoods iiand iiservices iiconnects iilabor iiincome iito iifirms iias
iiemployers.
E) iiThe iimarket iifor iigoods iiand iiservices iiconnects iilabor iiincome iito iihousehold
iispending. ii- iiAnswers ii-C) iiThe iimarket iifor iifactors iiof iiproduction iiconnects iispending
iiby iifirms iito iihousehold iiincome.
Correct. iiThe iimarket iifor iifactors iiof iiproduction iiconnects iispending iiby iifirms iito
iihousehold iiincome.
Which iistatement iiis iitrue iiabout iithe iiapproaches iiused iito iimeasure iithe iivalue iiof iia
iination's iigross iidomestic iiproduct ii(GDP) ii?
A) iiThe iiexpenditure iiapproach iito iicalculating iiGDP iisums iithe iicomponents iiof iithe
iisupply iiside iiof iithe iieconomy.
B) iiThe iiincome iiapproach iito iicalculating iiGDP iisums iithe iiincome iiearned iiby iithe
iifactors iiof iiproduction iiexcluding iiprofits.
C) iiThe iivalue-added iiapproach iito iicalculating iiGDP iisums iithe iifinal iimonetary iivalue iiof
iioutput iiat iieach iistage iiof iiproduction.
D) iiThe iiexpenditure iiapproach iito iicalculating iiGDP iisums iithe iimarket iivalue iiof iiall
iifinal iigoods iiand iiservices iiproduced iiby iiforeigners iiin iia iigiven iiperiod iiof iitime.
E) iiThe iiexpenditure iiapproach iito iicalculating iiGDP iisums iiconsumption iispending,
iiinvestment iispending, iigovernment iispending, iiand iinet iiexports. ii- iiAnswers ii-E) iiThe
iiexpenditure iiapproach iito iicalculating iiGDP iisums iiconsumption iispending, iiinvestment
iispending, iigovernment iispending, iiand iinet iiexports.
, Correct. iiThe iiexpenditure iiapproach iito iicalculating iiGDP iisums iithe iicomponents iiof
iithe iidemand iiside iiof iithe iieconomy ii- iiconsumption iispending, iiinvestment iispending,
iigovernment iispending, iiand iinet iiexports.
Calculate iiCountry iiX's iinominal iigross iidomestic iiproduct ii(GDP) iifor ii2017 iiusing iithe
iiexpenditures iiapproach.
A) ii14 iibillion iidollars
B) ii18 iibillion iidollars
C) ii19 iibillion iidollars
D) ii20 iibillion iidollars
E) ii21 iibillion iidollars ii- iiAnswers ii-C) ii19 iibillion iidollars
Correct. iiThe iiexpenditure iiapproach iito iicalculating iiGDP iisums iiconsumption
iispending, iigovernment iispending, iiinvestment iispending, iiand iinet iiexports. iiUsing iithe
iinumbers iiprovided iiin iithe iitable, iithe iicountry's iinominal iiGDP iifor ii2017 iiis iitherefore
ii13+3+4+(−1)=19 iibillion iidollars.
Which iiof iithe iifollowing iidescribes iia iilimitation iiof iigross iidomestic iiproduct ii(GDP) ii?
A) iiIt iioverstates iithe iivalue iiof iioutput iiby iicounting iinon-market iitransactions iisuch iias
iimowing iiyour iineighbor's iilawn.
B) iiIt iiunderstates iithe iivalue iiof iioutput iiby iiaccounting iifor iinegative iienvironmental iiside
iieffects iiof iiproduction.
C) iiIt iidoes iinot iiaccount iifor iithe iidistribution iiof iiincome iiin iia iination iior iiincome
iiinequality.
D) iiIt iioverstates iieconomic iiwell-being iiby iiincluding iiall iido-it-yourself iiactivities.
E) iiIt iifails iito iimake iiadjustments iifor iithe iivalue iiof iiservices iiconsumed iifor iifree iisuch
iias iibrowsing iion iithe iiWeb. ii- iiAnswers ii-C) iiIt iidoes iinot iiaccount iifor iithe iidistribution iiof
iiincome iiin iia iination iior iiincome iiinequality.
Correct. iiGDP iimeasures iithe iifinal iioutput iiproduced iiby iia iination iibut iidoes iinot
iiaccount iifor iithe iidistribution iiof iiincome iior iiincome iiinequality
Which iiof iithe iifollowing iiis iitrue iiabout iigross iidomestic iiproduct ii(GDP)?
A) iiCalculations iiof iiGDP iiinclude iithe iimonetary iivalue iiof iinon-market iiproduction
iiactivities iisuch iias iihouseholds iipreparing iiown iimeals iiat iihome.
B) iiCalculations iiof iiGDP iido iinot iiinclude iithe iimonetary iivalue iiof iiproduction iiactivities
iiinvolving iinegative iienvironmental iiside iieffects iisuch iias iipollution.
C) iiCalculations iiof iiGDP iiinclude iithe iimonetary iivalue iiof iiillegal iiproduction iiactivities
iisuch iias iidrug iicartels.
D) iiCalculations iiof iiGDP iiinclude iithe iisale iiof iiused iigoods.
E) iiCalculations iiof iiGDP iiinclude iithe iiunsold iiinventories iiof iigoods iiproduced iiwithin
iithe iiborders iiof iithe iicountry. ii- iiAnswers ii-E) iiCalculations iiof iiGDP iiinclude iithe iiunsold
iiinventories iiof iigoods iiproduced iiwithin iithe iiborders iiof iithe iicountry.
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