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12.Which of these will NOT be included in the GDP?
A. the value of a meal eaten at Wendy's in New York City but consumed by a tourist from
Norway
B.college tuition t
C.he value of Kansas corn
D.a cruise on a ship registered in Norway
13.Alternating periods of macroeconomic expansion and contraction are known as
A.trade surpluses and deficits.
B.hyperinflations.
C.budget surpluses and deficits.
D.business cycles.
15. Compensation of employees in the income approach to calculating GDP includes many
benefits, such as employers' contributions to unemployment compensation.
True
False
16.The brand of car you buy is a topic of interest for macroeconomics.
True
False
17.A simple circular flow diagram shows that the factors of production are
A.owned by the government.
B,traded in the market for goods and services.
C.purchased by businesses.
D.purchased by households.
12-Which of these will NOT be included in the GDP- A- the value of a m.pdf

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