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Ted moves into his first apartment. He buys a barely used
washer/dryer set from Craigslist and hires a company to pick it up
and deliver it to his apartment. What about this transaction will
be counted in GDP?

A. The value of the washer/dryer set

B. The value of the delivery service

C. The value of the washer/dryer set and the delivery
service

D. Since Craigslist listings are free, nothing about this
transaction will count toward GDP.

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Question 5 of 20

1.0 Points

In a simple closed economy, the income approach to calculating GDP
is:

A. wages + government – earned interest + rental income +
profits

B. wages + interest + government income + profits

C. wages + interest + rental income + profits.

D. None of these is correct.

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Question 6 of 20

1.0 Points

In 1976, the cost of a movie was $4. In 2012, it’s $9. If the CPI
for 1976 is 56, and 228 for 2012, to find the real 2012 value of a
1976 movie, we would multiply its nominal value in 1976 by the
ratio of:

A. (56/228).

B. (228/56).

C. (9/5).

D. (5/9).

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