1			Gross domestic product is defined as:
			A)	The market value of all goods and services produced in a country in a given period of time
			B)	The cost of all goods and services produced in a country in a given period of time
			C)	The cost of final goods and services produced in a country in a given period of time
			D)	The market value of final goods and services produced in a country in a given period of time
2			The increase in female labor force participation over the past three decades in MENA would typically result in:
			A)	An increase in GDP, but with an overstatement of the actual change being likely
			B)	No change in GDP, as the female labor force economic activity is already reflected in GDP
			C)	No change in GDP, as the increase in female labor force participation reflects only a transfer of existing economic activity from the unpaid to the market sector
			D)	An increase in GDP, with the measured change reflecting the actual GDP change
3			Which of the following goods are included in the GDP?
			A)	Intermediate goods
			B)	Government goods and services
			C)	Household production
			D)	Volunteer services
4			If, for a certain economy, GDP amounts to $500bn, consumption amounts to $150bn, investment amounts to $70bn, government purchases amounts to $100bn, and imports amounts to $120bn, then, according to the expenditure method for measuring GDP, exports should amount to:
			A)	$50bn
			B)	$100bn
			C)	$300bn
			D)	$400bn
5			The purchase of a firm's existing shares is included in which of the following components of GDP?
			A)	Investment
			B)	Government purchases
			C)	Consumption
			D)	It is not included in the computation of GDP
6			Based on the income approach to GDP, labor income constitutes what components of GDP?
			A)	Consumption
			B)	Investment
			C)	Consumption and Investment
			D)	Government Expenditure and Net Exports
7			If nominal GDP doubles and real GDP doubles, then GDP deflator would
			A)	Quadruple
			B)	Double
			C)	Triple
			D)	Remain the same
8			Suppose a small economy produces only potatoes and meat. In 2010, 30 units of potatoes are sold at $6 each and 10 units of meat are sold at $60 each. In 2009, the base year, the price of potatoes was $12 per unit, and the price of fish was $90 per unit. For 2010,
			A)	Nominal GDP is $780, real GDP is $1,260, and the GDP deflator is 162
			B)	Nominal GDP is $1,260, real GDP is $780, and the GDP deflator is 162
			C)	Nominal GDP is $1,260, real GDP is $780, and the GDP deflator is 62
			D)	Nominal GDP is $780, real GDP is $1,260, and the GDP deflator is 62

Use the following table to answer questions 9 and 10:

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9			Nominal GDP is:
			A)	$900 in 2009, $1,600 in 2010, and $2,500 in 2011
			B)	$1,000 in 2009, $1,700 in 2010, and $2,600 in 2011
			C)	$1,200 in 2009, $2,000 in 2010, and $3,000 in 2011
			D)	$1,800 in 2009, $ 3,200 in 2010, and $5,000 in 2011
10			Using 2009 as the base year, for 2010:
			A)	Real GDP is $1,000, and the GDP deflator is 59
			B)	Real GDP is $1,000, and the GDP deflator is 170
			C)	Real GDP is $1,300, and the GDP deflator is 76
			D)	Real GDP is $1,300, and the GDP deflator is 131