Page 29 - Macroeconomics. book docx_Neat
P. 29
Answer: False
7. Consumption is a component of GDP in the expenditure approach.
Answer: True
8. Government spending includes public services such as education and healthcare.
Answer: True
9. Imports are added when calculating GDP.
Answer: False
10. The GDP deflator is used to measure changes in the overall price level.
Answer: True
11. GDP per capita is used as an indicator of living standards.
Answer: True
12. GDP includes unpaid household work.
Answer: False
13. Economic growth is usually measured using real GDP.
Answer: True
14. GNP includes income earned by citizens abroad.
Answer: True
15. GDP ignores environmental damage.
Answer: True
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