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1. Which of the following are not included in GDP? a. Transfer payments. b. Imports C. Intermediate goods. d. All of the above are excluded from GDP.
2. GDP is: a. the total value of all consumer expenditures within a given period. b. national income after taxes. c. the total value of all final goods and services plus intermediate goods and services produced domestically within a given period. d. the value of all final goods and services produced domestically within a given period.
3. The construction of a price index is complicated by several factors, including changes in the quality of goods and services over time, the introduction of new products, and the disappearance of old, outmoded products. (1 Point) OT OF 4. Each person in the population can be classified as employed, unemployed, or not in the labor force. (1 Point) OT וד

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