1598 ? Chapter 23 /Measuring a Nation's Income
62. In the economy of Wrexington in 2008, exports were $500, GDP was $6400, government purchases were
$1500, imports were $600, and investment was $2000. What was Wrexington’s consumption in 2008? a. $1800 b. $2800 c. $3000 d. $4000
ANS: C DIF: 2 REF: 23-3 NAT: Analytic LOC: The study of economics and definitions of economics TOP: Consumption MSC: Applicative
63. In the economy of Wrexington in 2008, consumption was $6000, exports were $1000, GDP was $10,000,
government purchases were $2000, and imports were $600. What was Wrexington’s investment in 2008? a. $1400 b. $1600 c. $2400 d. $3600
ANS: B
NAT: Analytic TOP: Investment DIF: 2 REF: 23-3
LOC: The study of economics and definitions of economics MSC: Applicative
64. In the economy of Wrexington in 2008, consumption was $3000, exports were $200, GDP was $8000,
government purchases were $1000, and imports were $600. What was Wrexington’s investment in 2008? a. $3200 b. $3600 c. $3800 d. $4400
ANS: D
NAT: Analytic TOP: Investment DIF: 2 REF: 23-3
LOC: The study of economics and definitions of economics MSC: Applicative
65. In the economy of Wrexington in 2008, consumption was $3000, exports were $400, GDP was $5000, imports
were $600, and investment was $1100. What were Wrexington’s government purchases in 2008? a. $300 b. $500 c. $700 d. $1100
ANS: D DIF: 2 REF: 23-3 NAT: Analytic LOC: The study of economics and definitions of economics TOP: Government purchases MSC: Applicative
66. In the economy of Wrexington in 2008, consumption was $4000, exports were $800, GDP was $9500, imports
were $200, and investment was $1000. What were Wrexington’s government purchases in 2008? a. $3700 b. $3900 c. $5100 d. $5500
ANS: B DIF: 2 REF: 23-3 NAT: Analytic LOC: The study of economics and definitions of economics TOP: Government purchases MSC: Applicative
Chapter 23 /Measuring a Nation's Income ? 1599
67. In the economy of Wrexington in 2008, consumption was $200, exports were $50, GDP was $325,
government purchases were $100, imports were $125, and investment was $100. What were Wrexington’s net exports in 2008? a. -$75 b. -$50 c. $50 d. $75
ANS: A
NAT: Analytic TOP: Net exports DIF: 2 REF: 23-3
LOC: The study of economics and definitions of economics MSC: Applicative
68. In the economy of Wrexington in 2008, consumption was $800, GDP was $2000, government purchases were
$400, and investment was $600. What were Wrexington’s net exports in 2008? a. -$200 b. $200 c. $1800
d. Net exports cannot be calculated from the information given.
ANS: B
NAT: Analytic TOP: Net exports DIF: 2 REF: 23-3
LOC: The study of economics and definitions of economics MSC: Applicative
69. In the economy of Wrexington in 2008, consumption was $1000, GDP was $1950, government purchases
were $500, and investment was $700. What were Wrexington’s net exports in 2008? a. -$250 b. $250 c. $2200
d. Net exports cannot be calculated from the information given.
ANS: A
NAT: Analytic TOP: Net exports DIF: 2 REF: 23-3
LOC: The study of economics and definitions of economics MSC: Applicative
70. In the economy of Wrexington in 2008, consumption was $5300, GDP was $8800, government purchases
were $1800, imports were $500, and investment was $2000. What were Wrexington’s exports in 2008? a. -$800 b. -$300 c. $200 d. $300
ANS: C
NAT: Analytic TOP: Exports DIF: 2 REF: 23-3
LOC: The study of economics and definitions of economics MSC: Applicative
71. In the economy of Wrexington in 2008, consumption was $3000, GDP was $5500, government purchases
were $1000, imports were $2000, and investment was $1000. What were Wrexington’s exports in 2008? a. -$1500 b. $500 c. $1500 d. $2500
ANS: D
NAT: Analytic TOP: Exports DIF: 2 REF: 23-3
LOC: The study of economics and definitions of economics MSC: Applicative
1600 ? Chapter 23 /Measuring a Nation's Income
72. In the economy of Wrexington in 2008, consumption was $2000, exports were $800, GDP was $4800,
government purchases were $840, and investment was $1400. What were Wrexington’s imports in 2008? a. -$560 b. -$240 c. $240 d. $560
ANS: C
NAT: Analytic TOP: Imports DIF: 2 REF: 23-3
LOC: The study of economics and definitions of economics MSC: Applicative
73. In the economy of Wrexington in 2008, consumption was $500, exports were $200, GDP was $1200,
government purchases were $250, and investment was $300. What were Wrexington’s imports in 2008? a. -$150 b. -$50 c. $50 d. $150
ANS: C
NAT: Analytic TOP: Imports DIF: 2 REF: 23-3
LOC: The study of economics and definitions of economics MSC: Applicative
74. In the economy of Wrexington in 2008, consumption was one-half of GDP, government purchases were $2000
more than investment, investment was one-sixth of GDP, and the value of imports exceeded the value of exports by $500. What was Wrexington’s GDP in 2008? a. $3000 b. $4500 c. $9000 d. $15,000
ANS: C
NAT: Analytic TOP: GDP DIF: 3 REF: 23-3
LOC: The study of economics and definitions of economics MSC: Analytical
75. In the economy of Wrexington in 2008, consumption was 60% of GDP, government purchases were $212,
imports were $67 and 67% of the value of exports, investment was one-half of the value of consumption. What was Wrexington’s GDP in 2008? a. $1450 b. $1790 c. $2455 d. $2790
ANS: C
NAT: Analytic TOP: GDP DIF: 3 REF: 23-3
LOC: The study of economics and definitions of economics MSC: Analytical
Chapter 23 /Measuring a Nation's Income ? 1601
Table 23-2
The table below contains data for the country of Wrexington for the year 2008.
Household purchases of durable goods Household purchases of nondurable goods Household purchases of services Household purchases of new housing Purchases of capital equipment Inventory changes Purchases of new structures Depreciation Salaries of government workers Government expenditures on public works Transfer payments Foreign purchases of domestically produced goods Domestic purchases of foreign goods $1293 $1717 $301 $704 $310 $374 $611 $117 $1422 $553 $777 $88 $120 76. Refer to Table 23-2. What was Wrexington’s GDP in 2008?
a. $6359 b. $7136 c. $7253 d. $8147
ANS: C
NAT: Analytic TOP: GDP DIF: 3 REF: 23-3
LOC: The study of economics and definitions of economics MSC: Analytical
77. Refer to Table 23-2. What was Wrexington’s consumption in 2008?
a. $2018 b. $3010 c. $3311 d. $4015
ANS: C DIF: 3 REF: 23-3 NAT: Analytic LOC: The study of economics and definitions of economics TOP: Consumption MSC: Analytical
78. Refer to Table 23-2. What was Wrexington’s investment in 2008?
a. $1178 b. $1295 c. $1882 d. $1999
ANS: D
NAT: Analytic TOP: Investment DIF: 3 REF: 23-3
LOC: The study of economics and definitions of economics MSC: Analytical
79. Refer to Table 23-2. What were Wrexington’s government purchases in 2008?
a. $553 b. $1198 c. $1975 d. $2752
ANS: C DIF: 3 REF: 23-3 NAT: Analytic LOC: The study of economics and definitions of economics TOP: Government purchases MSC: Analytical
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