The least appropriate approach to calculating a countrys gross domestic product （GDP） is summing for a given time period the:
A. Value of all purchases and sales that took place within the country.
B. Amount spent on final goods and services produced within the country.
C. Income generated in producing all final goods and services produced within the country.
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Gross domestic product does not include the value of:
A. Transfer payments.
B. Government services.
C. owner-occupied housing.
The income from a financial investment in Country P by a citizen of Country Q is most likely included in:
A. Country Ps GDP but not its GNP.
B. Country Qs GNP and GDP
Country Ps GDP and GDP
If a countrys inflation rate is below the central banks target rate, the central bank is most likely to:
A. Sell government securities.
B. Increase the reserve requirement.
C. Decrease the overnight lending rate.
Real GDP is best described as the value of:
A. Current output measured at current prices.
B. Current output measured at base-year prices.
C. base-year output measured at current prices.
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