AP (Advanced Placement) Macroeconomics: Questions 669 - 672 of 750

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Question 669

Question

MCQ▾

When government expenses exceed over the revenues is known as;

Choices

Choice (5)Response

a.

Surplus

b.

Zero Budget

c.

Deficit

d.

Expansion

e.

All of the above

Question 670

Question

MCQ▾

Which of the following transactions would be counted in GDP?

Choices

Choice (5)Response

a.

The resale of a sweater you received from your great aunt at Christmas that you never wore on eBay.

b.

The sale of a pound of tomatoes at a supermarket.

c.

The wage you receive from babysitting your neighbor՚s kids.

d.

The sale of illegal drugs.

e.

The sale of cucumbers to a pickle manufacturer.

Question 671

Question

MCQ▾

Your aunt runs a small firm from her home making apple pies. She hires some friends to help her. Which of the following situations would most likely increase her demand for labor?

Choices

Choice (5)Response

a.

The price of apple peelers/corers rises.

b.

The price of apples increases.

c.

Your aunt՚s friends gossip all day, slowing their dough making process.

d.

A new study reveals that apples increase your risk of cancer.

e.

There is a sale on ovens.

Question 672

Appeared in Year: 2020 (NET)

Question

MCQ▾

GDP expressed in terms of current prices is called (September Evening Shift)

Choices

Choice (5)Response

a.

Gross National Product

b.

Real GDP

c.

Nominal GDP

d.

Net Domestic Product

e.

All of the above

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