Question: i need help with this. please answer all questions. QUESTION 1 In computing GDP, market prices are used in the calculations because O a market

i need help with this. please answer all questions.
i need help with this. please answer all questions. QUESTION 1 In
computing GDP, market prices are used in the calculations because O a
market prices do not reflect how prices change over time. Ob market

QUESTION 1 In computing GDP, market prices are used in the calculations because O a market prices do not reflect how prices change over time. Ob market prices are consistently free of inflation O c. market prices are constant over time. Od market prices can be used to combine the variety of goods and services produced in an economy into a single measure QUESTION 2 Suppose that you are planning to buy a new cellphone. Your choice is a new Samsung phone or HTC model. Samsung phones are manufactured in Korea and HTC phones are manufactured in Taiwan. Assuming that the price of each phone is the same, will your purchase of the Samsung or the HTC affect U.S. GDP differently? O a. Yes. The country from which a product is imported has different effects on U.S. GDP because it depends upon trade agreements with the countries. b. No, because Samsung's production only affects Korea's GDP; and HTC's production only impacts Taiwan's GDP. O c. Yes. This depends upon which cellphone carrier you choose d. No, both have the same impact: your purchase will increase consumption expenditures and decrease net exports by the same amount. QUESTION 3 A Minnesota farmer buys a new tractor made in Iowa by a German company. As a result, O a.U.S. investment and GDP increase, but German GDP is unaffected. O b.U.S. investment and German GDP increase, but U.S. GDP is unaffected. OC.U.S. investment, U.S. GDP and German GDP are unaffected because tractors are intermediate goods. O d.U.S. investment, U.S. GDP, and German GDP all increase. QUESTION 4 A U.S. firm produces nail guns in the first quarter of 2010 and adds them to its inventory. In the second quarter of 2010 the firm sells the nail guns to a U.S. construction company. In which quarter(s) does(do) these transactions raise investment? O a. the first and the second O b. the first but not the second O c. the second but not the first O d. neither the first nor the second QUESTION 9 GDP is equal to a. the market value of all final goods and services produced within a country in a given period of time. O b.Y. Oc C+I+G+ NX O d. All of the above are correct. QUESTION 10 Household spending on education is included in a. consumption, although it might be argued that it would fit better in investment. O b.investment, although it might be argued that it would fit better in consumption. c. government spending, based on the fact that most higher-education students attend publicly-supported colleges and universities. d. None of the above is correct; in general, household spending on services is not included in any component of GDP

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