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Chapter 07 - Measuring the Economy's Output
Chapter 07
Measuring the Economy's Output
True / False Questions
1. The purchase of Wal-Mart stock is a part of gross, but not of net, private domestic
investment.
FALSE
Accessibility: Keyboard Navigation

Difficulty: Easy
Learning Objective: 07-01 Explain how gross domestic product (GDP) is defined and measured.
Topic: 07-06 Financial Transactions
2. All expenditures on new construction are included as investment in calculating GDP.

TRUE

Difficulty: Easy
3. In an economy, the value of inventories rose from $275 billion in 2020 to $300 billion in
2021. In calculating the total investment for 2021, national income accountants would
increase it by $25 billion.
TRUE

Difficulty: Medium
Topic: 07-12 Positive and Negative Changes in Inventories
7-1
4. In an economy, the value of inventories fell by $50 billion from Year 1 to Year 2. In
calculating total investment for Year 2, national income accountants would increase it by $50
billion.
FALSE

Difficulty: Medium
5. Gross private domestic investment exceeds depreciation in an economy experiencing

expanding production capacity.
TRUE

Difficulty: Easy
6. Government purchases include expenditures for social capital such as schools and
highways that have long lifetimes.
TRUE

Difficulty: Easy
7. Interest on the public debt is included as a part of government purchases in determining

GDP by the expenditures method.
FALSE

Difficulty: Easy
7-2
8. Exports are subtracted from imports in calculating Canadian GDP because exports are not
available for domestic consumption.
FALSE

Difficulty: Easy
9. Welfare payments to families with dependent children are included in GDP.

FALSE

Difficulty: Easy
10. The before-tax income received by resource suppliers is measured by disposable income.
FALSE

Difficulty: Easy
11. Durable goods are products with expected lives of less than three years.
FALSE

Difficulty: Easy
7-3
12. A price index is 100 times the ratio of real GDP to nominal GDP.
FALSE

Difficulty: Easy
Learning Objective: 07-04 Discuss the nature and function of a GDP price index; and describe the difference between nominal GDP and
real GDP.
Topic: 07-10 Personal Consumption Expenditures (C)
13. If nominal GDP is 150 and the GDP price index is 200, real GDP is 75.
TRUE

Difficulty: Medium
real GDP.
14. If real GDP is 50 and nominal GDP is 100, the GDP price index is 200.
TRUE

Difficulty: Medium
real GDP.
15. To calculate the real GDP, Statistics Canada has started to consider both the quantities and
prices in the base year and the following year and then average the two.
TRUE

Difficulty: Medium
real GDP.
7-4
16. The current GDP price index used by Statistics Canada is referred to as the chain-
weighted index, because by using both the previous year prices and current prices it links each
year to the prior year.
TRUE

Difficulty: Easy
real GDP.
Topic: 07-11 Gross Investment (lg)
Multiple Choice Questions
17. A nation's gross domestic product (GDP):

A. is the dollar value of the total output produced within the borders of the nation.
B. is the dollar value of the total output produced by its citizens, regardless of where they are
living.
C. can be found by summing C + In+ S + Xn.
D. is always some amount less than its C + Ig+ G + Xn.

Difficulty: Easy
Topic: 07-02 Gross Domestic Product
18. The GDP is the:

A. monetary value of all final goods and services produced within a nation in a particular
year.
B. national income minus all non-income charges against output.
C. monetary value of all economic resources used in producing a year's output.
D. monetary value of all goods and services, final and intermediate, produced in a specific
year.

Difficulty: Easy
7-5
19. Suppose the total market value of all final goods and services produced in a particular
country is $600 billion and the total market value of final goods and services sold is $525
billion in 2020. We can conclude that:
A. GDP is $525 billion in 2020.
B. NDI is $525 billion in 2020.
C. GDP is $600 billion in 2020.
D. inventories fell by $75 billion in 2020.

Difficulty: Medium
20. Gross domestic product (GDP) measures and reports output:

A. as an index number.
B. in percentage terms.
C. in dollar amounts.
D. in quantities of physical units (for example, kilos, litres, and bushels).

Difficulty: Easy
21. GDP may be defined as:

A. the monetary value of all goods and services (final, intermediate, and non-market)
produced in a given year.
B. total resource income less taxes, saving, and spending on exports.
C. the economic value of all economic resources used in the production of a year's output.
D. the market value of all final goods and services produced within country in a specific year.

Difficulty: Easy
7-6
22. GDP is the total market value of:

A. all expenditures on natural resources, labor, and capital goods in an economy in a given
year.
B. all expenditures on consumption, investment, and net exports in an economy in a given
year.
C. all intermediate goods and services produced in an economy in a given year.
D. all final goods and services produced in an economy in a given year.

Difficulty: Easy
23. National income accountants can avoid multiple counting by:

A. including transfers in their calculations.
B. counting both intermediate and final goods.
C. only counting final goods.
D. only counting intermediate goods.

Difficulty: Easy
Topic: 07-04 Avoiding Multiple Counting
24. By summing the dollar value of all market transactions in the economy we would:
A. be determining the market value of all resources used in the production process.
B. obtain a sum substantially larger than the GDP.
C. be determining value added for the economy.
D. be measuring GDP.

Difficulty: Easy
7-7
25. The term "final goods and services" refers to:

A. goods and services which are unsold and therefore added to inventories.
B. goods and services whose value has been adjusted for changes in the price level.
C. goods and services purchased by ultimate users, as opposed to resale or further processing.
D. the excess of Canadians exports over Canadians imports.

Difficulty: Easy
26. GDP includes:

A. neither intermediate nor final goods.
B. both intermediate and final goods.
C. intermediate, but not final, goods.
D. final, but not intermediate, goods.

Difficulty: Easy
Topic: 07-05 GDP Excludes Nonproduction Transactions
27. Which is included in GDP?

A. used autos purchased by consumers
B. transfer payments
C. telephone service for a home
D. bread for a restaurant

Difficulty: Easy
7-8
28. An example of a final good in national income accounts would be new:

A. lawn mowers purchased by Cut-rite Mowers.
B. flowers purchased by homeowner Lenny Davis.
C. chemicals purchased by Green Grass Lawn Care.
D. trees purchased by Wendy Lee's Garden Center.

Difficulty: Medium
29. Which of the following is a final good or service?

A. diesel fuel bought for a delivery truck
B. fertilizer purchased by a farm supplier
C. a haircut
D. Chevrolet windows purchased by a General Motors assembly plant

Difficulty: Easy
30. An example of an intermediate good or service would be:

A. bricks bought by a homeowner for constructing a patio.
B. sacks of groceries bought by a dentist for his family.
C. a car bought by a household for commuting to work.
D. a desk bought by an accountant for her office.

Difficulty: Easy
7-9
31. Which of the following is an intermediate good?

A. the purchase of gasoline for a ski trip to B.C.
B. the purchase of a pizza by a college or university student
C. the purchase of baseball bats by a professional baseball team
D. the purchase of jogging shoes by a professor

Difficulty: Easy
32. If all the final goods and intermediate goods and services were included in GDP:
A. the GDP would then have to be deflated for changes in the price level.
B. nominal GDP would exceed real GDP.
C. the GDP would be overstated.
D. the GDP would be understated.

Difficulty: Easy
33. A business buys $5,000 worth of resources to produce a product. The business makes 100
units of the product and each of them sells for $65. The value added by the business to these
products is:
A. $5,000
B. $6,500
C. $1,000
D. $1,500

Difficulty: Medium
7-10
34. Subtracting the purchase of intermediate products from the value of the sales of final
products determines the amount of:
A. net investment for a business.
B. profit and cost.
C. value added from the economic activity.
D. surplus or deficit from the economic activity.

Difficulty: Easy
35. Value added refers to:

A. any increase in GDP which has been adjusted for adverse environmental effects.
B. the excess of gross investment over net investment.
C. the difference between the value of a firm's output and the value of the inputs it has
purchased from others.
D. the portion of any increase in GDP which is caused by inflation as opposed to an increase
in real output.

Difficulty: Easy
36. Assume a manufacturer of stereo speakers purchases $40 worth of components for each
speaker. The completed speaker sells for $70. The value added by the manufacturer for each
speaker is:
A. $110
B. $30
C. $40
D. $70

Difficulty: Easy
7-11
37. Setup Corporation buys $100,000 of sand, rock, and cement to produce ready-mix
concrete. It sells 10,000 cubic yards of concrete at $30 a cubic yard. The value added by
Setup Corporation is:
A. $200,000
B. $100,000
C. $300,000
D. zero dollars.

Difficulty: Medium
38. By summing the values added at each stage in the production of some good we obtain:
A. the price of that good.
B. the total income generated by that good's production.
C. the total cost (including profits) of that product.
D. all of these.

Difficulty: Easy
39. Value added is the value of a firm's output minus:

A. the value of intermediate goods purchased from other firms.
B. the compensation it pays to employees.
C. the value of its capital goods.
D. its depreciation.

Difficulty: Easy
7-12
40. A business buys $7,000 worth of resources to produce a product. The business makes 150
units of the product and each of them sells for $90. The value added by the business to these
products is:
A. $13,500
B. $6,500
C. $7,000
D. $6,850

Difficulty: Easy
41. The value added by firms A-E from the production of the product described below is:
Stage of production Sales value of materials or products

Firm A $800
Firm B 1,250
Firm C 1,850
Firm D 2,600
Firm E 3,800
A. $3,000
B. $3,800
C. $6,500
D. $10,300

Difficulty: Medium
7-13
42. A distinguishing characteristic of public transfer payments is that:

A. they are used to subsidize the major transportation carriers to reduce transportation costs.
B. they are counted as part of government purchases in the calculation of the gross domestic
product.
C. there is a tax on the amount of the subsidy above a certain income level.
D. the recipients make no contribution to current production in return for them.

Difficulty: Hard
43. Suppose Smith pays $100 to Jones.

A. We can say with certainty that the GDP has increased by $100.
B. We can say with certainty that the GDP has increased, but we cannot determine the
amount.
C. We can say with certainty that the nominal GDP has increased, but we can't say whether
real GDP has increased or decreased.
D. We need more information to determine whether GDP has changed.

Difficulty: Easy
44. Tom Atoe grows tomatoes for home consumption. This activity is:
A. excluded from GDP in order to avoid double counting.
B. excluded from GDP because an intermediate good is involved.
C. productive but is excluded from GDP because no market transaction occurs.
D. included in GDP because it reflects production.

Difficulty: Easy
7-14
45. In calculating GDP, governmental transfer payments, such as welfare payments, are:
A. not counted.
B. counted as investment spending.
C. counted as government spending.
D. counted as consumption spending.

Difficulty: Easy
46. Transfer payments are:

A. excluded when calculating GDP because they only reflect inflation.
B. excluded when calculating GDP because they do not reflect current production.
C. included when calculating GDP because they are a category of investment spending.
D. included when calculating GDP because they increase the spending of recipients.

Difficulty: Easy
47. GDP excludes expenditures by:

A. businesses on pollution control equipment.
B. business for travel and entertainment.
C. government on military hardware.
D. consumers on used automobiles.

Difficulty: Easy
7-15
48. In calculating GDP by the income approach, we should sum up:

A. wages, consumption, investment and rent.
B. wages, rent, interest and profit income.
C. wages, interest, investment, and exports.
D. wages, profit income, investment, and consumption.

Difficulty: Easy
49. In calculating GDP by the expenditure approach, we sum up:

A. consumption, investment, government purchases, exports, and imports.
B. investment, government purchases, consumption, and net exports.
C. consumption, investment, wages, and rents.
D. consumption, investment, government purchases, and imports.

Difficulty: Easy
50. A nation's gross domestic product (GDP) by the expenditure approach:

A. can be found by summing C + Ig+ G + Xn.
B. is the dollar value of the total output produced by its citizens, regardless of where they are
living.
C. can be found by summing C + S + G + Xn.
D. is always some amount less than its NDI.

Difficulty: Easy
7-16
51. The largest component of total expenditures in Canada is:

A. net exports.
B. government purchases.
C. consumption.
D. gross investment.

Difficulty: Easy
52. Which of the following do national income accountants consider to be "investment"?

A. the purchase of an automobile for private, non-business use
B. the purchase of a new house
C. the purchase of corporate bonds
D. the purchase of gold coins

Difficulty: Easy
53. As defined in national income accounting, investment includes:

A. business expenditures on machinery and equipment.
B. all consumption.
C. imports, but not exports.
D. all nonfood items.

Difficulty: Easy
7-17
54. Economists define investment to include:

A. any increase in business inventories.
B. the addition of cash to a savings account.
C. the purchase of common or preferred stock.
D. the purchase of any durable good, for example, an automobile or a refrigerator.

Difficulty: Easy
55. Which of the following is not an economic investment?

A. the purchase of a drill press by the Ajax Manufacturing Company
B. the purchase of 100 shares of Bell Canada by a retired business executive
C. construction of a suburban housing project
D. the piling up of inventories on a grocer's shelf

Difficulty: Easy
56. An increase in inventories during 2022:

A. will result in gross investment being higher than net investment by the amount of the
inventory increase.
B. should be ignored while calculating GDP for 2022.
C. should be subtracted from GDP calculated for 2022.
D. should be included in GDP calculated for 2022.

Difficulty: Medium
7-18
57. In calculating GDP, national income accountants:

A. treat inventory changes as an adjustment to personal consumption expenditures.
B. ignore inventories because they do not represent final goods.
C. subtract increases in inventories and add decreases in inventories.
D. add increases in inventories and subtract decreases in inventories.

Difficulty: Medium
58. Suppose ZZZ Corporation issues new common stock worth $25 million in 2020. It uses
$18 million of the proceeds to replace obsolete equipment in its factory and $7 million to
repay bank loans. As a result, there is an increase in gross investment by:
A. $7 million.
B. $25 million.
C. $18 million.
D. $11 million.

Difficulty: Medium
Topic: 07-14 Gross Investment Versus Net Investment
59. In February 2016, Trailblazer Bicycle Company produced a mountain bike that was
delivered to a retail outlet in November 2016. The bicycle was sold to E.Z. Ryder in March
2018. This bicycle is counted as:
A. a consumption expenditure in 2016 and as a disinvestment in 2018.
B. a disinvestment in 2016 and as a consumption expenditure in 2018.
C. a disinvestment in 2016 and as an investment in 2018.
D. an investment in 2016 and as a disinvestment in 2018.

Difficulty: Hard
7-19
60. If depreciation exceeds gross investment:

A. the economy's stock of capital may be either growing or shrinking.
B. the economy's stock of capital is shrinking.
C. the economy's stock of capital is growing.
D. net investment is zero.

Difficulty: Easy
61. Net investment refers to:

A. the amount of machinery and equipment used up in producing GDP in a specific year.
B. the difference between the market value and book value of outstanding capital stock.
C. gross domestic investment less net exports.
D. gross investment less consumption of fixed capital.

Difficulty: Easy
62. If depreciation (consumption of fixed capital) exceeds gross investment, it can be

concluded that:
A. nominal GDP is rising but real GDP is declining.
B. net investment is negative.
C. the economy is importing more than it exports.
D. the economy is expanding.

Difficulty: Easy
7-20
63. When an economy's production capacity is expanding:

A. nominal GDP, but not necessarily real GDP, is rising.
B. net exports is always a positive amount.
C. disposable income exceeds personal income.
D. gross investment exceeds depreciation.

Difficulty: Medium
64.
Economy A: Gross investment equals depreciation

Economy B: Depreciation exceeds gross investment
Economy C: Gross investment exceeds depreciation
Refer to the above information. Negative net investment is occurring in:

A. economy A only.
B. economy B only.
C. economy C only.
D. economies A and B only.

Difficulty: Easy
65.
Economy A: Gross investment equals depreciation

Economy B: Depreciation exceeds gross investment
Economy C: Gross investment exceeds depreciation
7-21
Other things equal, the above information suggests that the production capacity in economy:
A. B is growing more rapidly than either A or C.
B. A is growing more rapidly than either B or C.
C. A is growing less rapidly than economy B.
D. C is growing more rapidly than economy B.

Difficulty: Medium
7-22
66. In 1933 net investment was minus $208 million. This meant that:
A. gross investment exceeded depreciation by $208 million.
B. the economy was expanding in that year.
C. the production of 1933's GDP used up more capital goods than were produced in that year.
D. the economy produced no capital goods at all in 1933.

Difficulty: Medium
67. An economy is enlarging its stock of capital goods:

A. when net investment exceeds gross investment.
B. when gross investment exceeds replacement investment.
C. whenever gross investment is positive.
D. when replacement investment exceeds gross investment.

Difficulty: Easy
68. A nation's stock of capital goods will decline when:

A. gross investment exceeds net investment.
B. net investment is positive, but less than gross investment.
C. depreciation exceeds gross investment.
D. gross investment exceeds depreciation.

Difficulty: Easy
7-23
69. In an economy experiencing a declining production capacity:

A. the nation's stock of capital goods is expanding.
B. net exports are necessarily zero.
C. Net Investment exceeds GDP.
D. depreciation exceeds gross investment.

Difficulty: Easy
70. If in some year gross investment was $120 billion and net investment was $65 billion,
then in that year the country's capital stock:
A. may have either increased or decreased.
B. increased by $65 billion.
C. increased by $55 billion.
D. decreased by $55 billion.

Difficulty: Medium
71. Money spent on the purchase of a new house is included in the GDP as a part of:
A. the consumption of private fixed capital.
B. personal consumption expenditures.
C. personal saving.
D. investment.

Difficulty: Medium
7-24
72. In November 2017, General Motors produced an automobile that was delivered to a local
dealership in December 2017. The auto was sold to Sharon Smith for personal use in February
2018. Following national income accounting practices, this auto would be counted as:
A. consumption in 2017 and 2018.
B. consumption in 2017 and investment in 2018.
C. disinvestment in 2017 and consumption in 2018.
D. investment in 2017 and disinvestment in 2018.

Difficulty: Hard
73. Which would be considered an investment according to economists?

A. the buying of shares of Janus mutual funds
B. the purchase of a new machinery by Ford
C. the purchase of stock of McDonald's
D. the selling of IBM corporate bonds

Difficulty: Easy
74. Which would be considered an investment according to economists?

A. the purchase of newly-issued shares of stock in Microsoft
B. the construction of a new computer chip factory by Intel
C. the purchase of shares of stock by Fidelity, a mutual fund company
D. the sale of government bonds by the nation's central bank

Difficulty: Medium
7-25
75. Gross investment refers to:

A. private investment minus public investment.
B. net investment plus replacement investment.
C. net investment after it has been "inflated" for changes in the price level.
D. net investment plus net exports.

Difficulty: Easy
76. From an economist's perspective, which is not considered to be an investment?

A. construction of a new factory
B. purchase of shares of company stock
C. the building of an apartment complex
D. additions to inventories at steel plants

Difficulty: Easy
77. In an economy, the value of inventories rose from $100 billion in 2016 to $150 billion in
2017. In calculating the total investment for 2017, national income accountants would:
A. decrease it by $50 billion.
B. increase it by $50 billion.
C. decrease it by $100 billion.
D. increase it by $150 billion.

Difficulty: Medium
7-26
78. In an economy, the value of inventories fell from $75 billion in 2012 to $63 billion in
2013. In calculating the total investment for 2013, national income accountants would:
A. decrease it by $75 billion.
B. increase it by $63 billion.
C. decrease it by $12 billion.
D. increase it by $138 billion.

Difficulty: Medium
79. In Year 1, inventories rose by $25 billion. In Year 2, inventories fell by $20 billion. In
calculating total investment, national income accountants would have:
A. decreased it by $25 billion in Year 1 and increased it by $20 billion in Year 2.
B. decreased it by $25 billion in Year 1 and increased it by $5 billion in Year 2.
C. increased it by $25 billion in Year 1 and decreased it by $5 billion in Year 2.
D. increased it by $25 billion in Year 1 and decreased it by $20 billion in Year 2.

Difficulty: Medium
80. A nation's capital stock was valued at $300 billion at the start of the year and $350 billion
at the end. Consumption of private fixed capital in the year was $25 billion. Assuming stable
prices, gross investment was:
A. $25 billion.
B. $50 billion.
C. $75 billion.
D. $90 billion.

Difficulty: Medium
7-27
81. Refer to the information below. Net investment:
All figures are in billions.
Personal consumption expenditures $400

Government current purchases of goods and services 128
Gross investment 88
Net exports 20
Capital consumption allowances 43
Indirect taxes 50
Wages, salaries, and supplementary labour income 369
Accrued net income of farmers 12
Interest and miscellaneous investment income 15
Net income of non-farm unincorporated business 52
Corporate profits before taxes 36
Government transfer payments 24
Undistributed corporate profits 22
Net investment income from non-residents -13
A. cannot be determined from the data given.

B. is $45.
C. is $53.
D. is $72.

Difficulty: Medium
7-28
82. In national income accounting, G stands for:

A. government purchases.
B. gross investment.
C. government transfer payments.
D. gross saving.

Difficulty: Easy
83. Net exports are a negative number when:

A. a nation's imports of goods and services fall.
B. a nation's imports of goods and services rise.
C. a nation's exports of goods and services are greater than its imports.
D. a nation's imports of goods and services are greater than its exports.

Difficulty: Easy
7-29
84. Net exports are:

A. that portion of consumption and investment goods sent to other countries.
B. exports plus imports.
C. exports less imports.
D. imports less exports.

Difficulty: Easy
85. Net exports are negative when:

A. a nation's imports exceed its exports.
B. the economy's stock of capital goods is declining.
C. depreciation exceeds domestic investment.
D. a nation's exports exceed its imports.

Difficulty: Easy
86. The smallest component of aggregate spending in Canada is:

A. net exports.
B. government purchases.
C. investment.
D. consumption.

Difficulty: Easy
7-30
87. The value of Canadian imports is:

A. added to exports when calculating GDP because imports reflect spending by Canadians.
B. subtracted from exports when calculating GDP because imports do not entail spending by
Canadians.
C. subtracted from exports when calculating GDP because imports do not entail production in
Canada.
D. added when calculating GDP because imports do not entail production in Canada.

Difficulty: Easy
88. In the treatment of Canadian exports and imports, national income accountants:
A. subtract exports, but add imports, in calculating GDP.
B. subtract both exports and imports in calculating GDP.
C. add both exports and imports in calculating GDP.
D. add exports, but subtract imports, in calculating GDP.

Difficulty: Easy
7-31
89. All figures are in billions of dollars.
Gross investment $56

Personal taxes 23
Net investment 33
Personal saving 10
Net exports 9
National income 278
Canadian exports 20
Government expenditure 61
Disposable income 220
Indirect taxes 32
Net income of nonfarm unincorporated business 45
Net investment income from Canada -3
Refer to the above information. Canadian imports:

A. cannot be calculated
B. are $26.
C. are $16.
D. are $11.

Difficulty: Easy
7-32
90. All figures are in billions of dollars.

Personal taxes 23
Net investment 33
Personal saving 10
Net exports 9
National income 278
Canadian exports 20
Government expenditure 61
Indirect taxes 32
Refer to the above information. The gross domestic product is:

A. $328
B. $402
C. $382
D. $336

Difficulty: Easy
7-33
91. Gross domestic product (GDP) is equal to personal consumption expenditures:

A. plus gross investment, minus government spending, and plus net exports.
B. plus gross investment, plus government spending, and minus net exports.
C. minus gross investment, plus government spending, and plus net exports.
D. plus gross investment, plus government spending, and plus net exports.

Difficulty: Medium
92. The following are national income account data for a hypothetical economy in billions of
dollars: gross investment ($320); imports ($35); exports ($22); personal consumption
expenditures ($2,460); and, government purchases ($470). What is GDP in this economy?
A. $3,237 billion
B. $3,263 billion
C. $3,273 billion
D. $3,290 billion

Difficulty: Medium
7-34
dollars: government purchases ($940); personal consumption expenditures ($4,920); imports
($170); exports ($133); gross investment ($640). What is GDP in this economy?
A. $6,463 billion
B. $6,500 billion
C. $6,537 billion
D. $6,633 billion

Difficulty: Medium
dollars: government purchases ($1,050); personal consumption expenditures ($4,800);
imports ($370); exports ($240); gross investment ($1,130). Personal consumption
expenditures are approximately what percentage of this economy?
A. 60 percent
B. 65 percent
C. 70 percent
D. 75 percent

Difficulty: Medium
7-35
95. Refer to the information below. GDP is:
All figures are in billions of dollars.
Personal taxes $40

Other earnings not paid out to persons 15
Indirect taxes less subsidies 20
Corporate income taxes 40
Canadian exports 24
Gross investment 75
Canadian imports 17
Personal consumption expenditures 250
Net investment 50
Net investment income from nonresidents -5
A. $422
B. $467
C. $417
D. $402

Difficulty: Medium
7-36
96. GDP by the expenditure approach is equal to:

A. C + Ig+ G + Xn.
B. C + Ig+ G - Xn.
C. C + In+ G + Xn.
D. C + In+ G - Xn.

Difficulty: Easy
97. Refer to the information below. The gross domestic product is: All figures are in billions
of dollars.

Exports of Canada 9
Personal saving 10
Capital consumption allowance 52
Imports of Canada 10
Indirect taxes 22
Personal taxes 38
7-37
A. $326
B. $282
C. $309
D. $300

Difficulty: Medium
7-38
98. GDP in an economy is $4,600 billion. Consumer expenditures are $3,500 billion,
government purchases are $900 billion, and gross investment is $400 billion. Net exports are:
A. +$400 billion.
B. -$400 billion.
C. +$200 billion.
D. -$200 billion.

Difficulty: Medium
99. Refer to the information below. The gross domestic product for this economy is: All
figures are in billions.
Personal consumption expenditures $400

Gross investment 88
Net exports 20
Capital consumption allowances 43
Indirect taxes 50
Wages, salaries, and supplementary labour income 369
Accrued net income of farmers 12
Corporate profits before taxes 36
Net investment income from non-residents -13
7-39
A. $584
B. $592
C. $609
D. $636

Difficulty: Medium
100. Wages, salaries, and supplementary labour income in Canada:

A. is about 30% of the income categories.
B. is the smallest category in the calculation of the GDP by the income approach.
C. is the largest category in the calculation of the GDP by the income approach.
D. is the only category in the calculation of the GDP by the income approach.

Difficulty: Medium
Learning Objective: 07-03 Explain how GDP can be determined by summing all of the incomes that were derived from producing the
economy's output of goods and services.
Topic: 07-08 Two Ways of Calculating GDP: Expenditures and Income
7-40
101. If we add up the figures for wages, rent, interest and profit:
A. the figure is not equal to the GDP by the expenditure approach because it does not include
the amount of investment.
B. the figure is not equal to the GDP by the expenditure approach because the Canadian
national accounts do not reflect each of these four factors of income and also because a few
adjustments are necessary.
C. we obtain a figure which is equal to the GDP by the expenditure approach.
D. it does not reflect the actual figure for the GDP by the expenditure approach because it
does not include the amount of consumption.

Difficulty: Medium
102. Profits of private corporations are divided into:

A. corporate income taxes, dividends and undistributed corporate profits.
B. corporate income taxes, investment and distributed corporate profits.
C. dividends, distributed and undistributed corporate profits.
D. supplementary labour income, dividends, and distributed corporate profits.

Difficulty: Medium
103. Interest and investment income includes:

A. retained earnings.
B. interest on bonds and loans of money capital and rental income received by households and
inputted rent.
C. taxes which are levied on the corporations' net earnings.
D. Interest paid to the households for their investment.

Difficulty: Easy
7-41
104. Net income from farms and unincorporated businesses is defined as:
A. the earnings of investment of corporate businesses.
B. the earnings of corporate stock holders.
C. the earnings of government received from farmers.
D. the earnings of farmers and proprietors from their own businesses.

Difficulty: Easy
105. Net Domestic Income at the factor cost refers to the:

A. total income earned by Canadian-supplied factors of production as wages, interest, rent and
profit.
B. total income earned by foreign-supplied factors of production as wages, interest, rent and
profit.
C. total income earned by foreign-supplied and Canadian-supplied factors of production as
wages, interest, rent and profit.
D. total income earned by Canadian households.

Difficulty: Medium
106. The GDP figure by the income approach will be identical to the GDP by the expenditure
approach if we add to the Net Domestic income:
A. the capital consumption allowances and the investment income.
B. the capital consumption allowances and the interest payments to the owners of capital.
C. the indirect taxes and the capital consumption allowances.
D. profits of the corporations and the capital consumption allowances.

Difficulty: Medium
7-42
107. Refer to the information below. The capital consumption allowance:
Personal taxes $23

Net investment 33
Personal saving 10
Net exports 9
National income 278
Canadian exports 20
Gross investment 56
Indirect taxes 32
A. cannot be calculated.
B. is $23.
C. is $14.
D. is $32.

Difficulty: Easy
7-43
108. Refer to the information below. Personal income is:

Exports of Canada 9
Personal saving 10
Capital consumption allowance 52
Imports of Canada 10
Indirect taxes 22
Personal taxes 38
A. $184
B. $221
C. $202
D. $228

Difficulty: Medium
7-44
109. Transfer payments are included in:

A. GNP.
B. PI.
C. GDP.
D. G.

Difficulty: Easy
110. Refer to the data below. Personal income:
Personal taxes $23

Net investment 33
Personal saving 10
Net exports 9
National income 278
Canadian exports 20
Gross investment 56
Indirect taxes 32
7-45
A. is $229.
B. is $253.
C. is $274.
D. is $243.

Difficulty: Medium
111. Which of the following best defines disposable income?

A. income received by households less personal taxes
B. the before-tax income received by households
C. all income earned by resource suppliers for their current contributions to production
D. the market value of the annual output net of consumption of fixed capital

Difficulty: Easy
7-46
112. Which of the following is the smallest in terms of dollar amount in Canada?
A. disposable income
B. personal income
C. gross domestic product
D. gross national product

Difficulty: Easy
113. The amount of after-tax income received by households is measured by:

A. discretionary income.
B. net domestic income.
C. disposable income.
D. personal income.

Difficulty: Easy
114. Disposable income differs from personal income by:

A. personal taxes.
B. personal saving.
C. transfer payments.
D. personal consumption expenditures.

Difficulty: Easy
7-47
115. In a typical year which of the following measures of aggregate output and income is
likely to be the smallest?
A. gross domestic product
B. net domestic income
C. disposable income
D. personal income

Difficulty: Easy
116. Nondurable goods are products:

A. with expected lives of over three years.
B. with expected lives of less than three years.
C. with expected lives of over 2 years.
D. with expected lives of under 2 years.

Difficulty: Easy
117. Nominal GDP is:

A. the sum of all monetary transactions which occur in the economy in a year.
B. the sum of all monetary transactions involving final goods and services which occur in the
economy in a year.
C. the amount of production which occurs when the economy is operating at full employment.
D. money GDP adjusted for inflation.

Difficulty: Easy
real GDP.
Topic: 07-09 The Expenditures Approach
7-48
118. GDP measured using current prices is called:

A. nominal GDP.
B. real GDP.
C. constant GDP.
D. deflated GDP.

Difficulty: Easy
real GDP.
119. The term "real GDP" refers to:

A. the value of the domestic output after adjustments have been made for environmental
pollution and changes in the distribution of income.
B. GDP data which embody changes in the price level, but not changes in physical output.
C. GDP data which reflect changes in both physical output and the price level.
D. GDP data which have been adjusted for changes in the price level.

Difficulty: Easy
real GDP.
120. Real GDP measures:

A. current output at current prices.
B. current output at base year prices.
C. base year output at current prices.
D. base year output at current exchange rates.

Difficulty: Easy
real GDP.
7-49
121. Real GDP and nominal GDP differ because the real GDP:
A. is adjusted for changes in the volume of intermediate transactions.
B. includes the economic effects of international trade.
C. has been adjusted for changes in the price level.
D. excludes depreciation charges.

Difficulty: Easy
real GDP.
122. If nominal GDP rises:

A. real GDP may either rise or fall.
B. we can be certain that the price level has risen.
C. real GDP must fall.
D. real GDP must also rise.

Difficulty: Easy
real GDP.
123. Real GDP is:

A. the nominal value of all goods and services produced in the economy.
B. the nominal value of all goods and services produced in the domestic economy corrected
for inflation or deflation.
C. that aggregate output which is produced when the economy is operating at full
employment.
D. always greater than nominal GDP.

Difficulty: Easy
real GDP.
7-50
124. In comparing GDP data over a period of years a difference between nominal and real
GDP may arise because:
A. of changes in our trade deficits and surpluses.
B. the length of the workweek has declined historically.
C. the price level may change over time.
D. depreciation may be greater or smaller than gross investment.

Difficulty: Easy
real GDP.
125. Only three goods are produced in an economy in the following amounts: A = 10, B = 30,
C = 5. The current year per unit prices of these three goods are A = $2, B = $3, and C = $1.
Refer to the above information. Nominal GDP in the current year is:
A. $110
B. $115
C. $45
D. $90

Difficulty: Easy
real GDP.
Refer to the above information. If the per unit prices of the three goods each were $1 in a base
year used to construct a GDP price index, then real GDP in the current year:
A. is $110.
B. is $115.
C. is $45.
D. cannot be determined on the basis of this data.

Difficulty: Medium
real GDP.
7-51
127. Assume an economy which is producing only one product. Output and price data for a
three-year period are as follows.
Year Units of output Price per unit

1 20 $4
2 25 4
3 30 6
Refer to the above data. The nominal GDP for year 3 is:
A. 125 percent higher than the nominal GDP for year 1.
B. 50 percent higher than the nominal GDP for year 1.
C. 120
D. 30

Difficulty: Hard
real GDP.

1 20 $4
2 25 4
3 30 6
7-52
Refer to the above data. If year 2 is chosen as the base year, real GDP for year 1 is:
A. $25
B. $100
C. $50
D. $80

Difficulty: Medium
real GDP.
7-53

1 20 $4
2 25 4
3 30 6
Refer to the above data. If year 2 is chosen for the base year, in year 3 nominal GDP and real
GDP, respectively, are:
A. $180 and $30.
B. $30 and $5.
C. $180 and $120.
D. $120 and $100.

Difficulty: Medium
real GDP.
130. In an economy experiencing persistent deflation:

A. potential GDP will necessarily exceed actual GDP.
B. changes in nominal GDP may either overstate or understate changes in real GDP.
C. changes in nominal GDP understate changes in real GDP.
D. changes in nominal GDP overstate changes in real GDP.

Difficulty: Medium
real GDP.
7-54
131. If real GDP falls from one period to another, we can conclude that:
A. deflation occurred.
B. inflation occurred.
C. nominal GDP fell.
D. less goods and services have been produced.

Difficulty: Medium
real GDP.
7-55
132.
Refer to the above diagram. The base year used in determining the price indices for this
economy:
A. cannot be determined from the information given.
B. is some year before 1992.
C. is more recent than 1992.
D. is 1992.
Difficulty: Medium
real GDP.
7-56
133.
Refer to the above diagram. Which of the following statements is correct?

A. The price index is greater than 100 for every year shown on the graph.
B. Nominal GDP must be deflated in each year prior to 1992 to determine real GDP.
C. Real GDP has grown in this economy, but nominal GDP has not.
D. Nominal GDP must be deflated in each year since 1992 to determine real GDP.
Difficulty: Medium
real GDP.
7-57
134. If real GDP rises and the GDP price index has increased:
A. the percentage increase in nominal GDP must have been less than the percentage increase
in the price level.
B. nominal GDP may have either increased or decreased.
C. nominal GDP must have increased.
D. nominal GDP must have fallen.

Difficulty: Medium
real GDP.
135. In determining real GDP economists adjust the nominal GDP by using the:
A. national productivity index.
B. wholesale (producer) price index.
C. GDP price index.
D. consumer price index.

Difficulty: Medium
real GDP.
136. The fact that nominal GDP has risen faster than real GDP:
A. suggests that the base year of the GDP price index has been shifted.
B. tells us nothing about what has happened to the price level.
C. suggests that the general price level has fallen.
D. suggests that the general price level has risen.

Difficulty: Medium
real GDP.
7-58
137. Nominal GDP is less than real GDP in an economy in year 1 and year 2. In year 3,
nominal GDP is equal to real GDP. In year 4, nominal GDP is slightly greater than real GDP.
In year 5, nominal GDP is significantly greater than real GDP. Which year is most likely to be
the base year being used to calculate the price index for this economy?
A. 2
B. 3
C. 4
D. 5

Difficulty: Easy
real GDP.
138. Answer the question(s) based on the following data, using year 1 as the base year. All
dollars are in billions.
Year Nominal GDP Price Index

1 $3,166 100
2 $3,402 104
3 $3,774 108
4 $3,989 112
Refer to the above data. From year 1 to year 4, prices rose by:
A. 4 percent.
B. 8 percent.
C. 10 percent.
D. 12 percent.

Difficulty: Easy
real GDP.
7-59
139. Answer the question(s) based on the following data, using year 1 as the base year. All
dollars are in billions.

1 $3,166 100
2 $3,402 104
3 $3,774 108
4 $3,989 112
Refer to the above data. Real GDP in year 2 was approximately:

A. $3,245 billion.
B. $3,271 billion.
C. $3,295 billion.
D. $3,402 billion.

Difficulty: Medium
real GDP.
140. A price index is:

A. a comparison of the price of a market basket from a fixed point of reference.
B. a comparison of real GDP in one period relative to another.
C. the cost of a market basket of goods and services in a base period divided by the cost of the
same market basket in another period.
D. a ratio of real GDP to nominal GDP.

Difficulty: Easy
real GDP.
7-60
141. The table below indicates the price and output data over a five-year period for an
economy that produces only one good.

1 8 $2
2 10 3
3 15 4
4 18 5
5 20 6
Refer to the above data. If year 3 is chosen as the base year, the price index for year 1:
A. is 140.
B. is 40.
C. is 167.
D. is 50.

Difficulty: Medium
real GDP.

1 8 $2
2 10 3
3 15 4
4 18 5
5 20 6
7-61
Refer to the above data. The nominal GDP for year 4:

A. is $90.
B. is $55.
C. is $40.
D. is $35.

Difficulty: Easy
real GDP.
7-62

1 8 $2
2 10 3
3 15 4
4 18 5
5 20 6
Refer to the above data. If year 2 is the base year, the price index for year 3 is:
A. 120
B. 125
C. 133
D. 150

Difficulty: Easy
real GDP.

1 8 $2
2 10 3
3 15 4
4 18 5
5 20 6
7-63
Refer to the above data. If year 2 is the base year, real GDP in year 5 is:
A. $120
B. $90
C. $60
D. $30

Difficulty: Easy
real GDP.
7-64

1 8 $2
2 10 3
3 15 4
4 18 5
5 20 6
Refer to the above data. If year 2 is the base year, the percentage increase in real GDP from
year 2 to year 4 is:
A. 40 percent.
B. 60 percent.
C. 100 percent.
D. 80 percent.

Difficulty: Medium
real GDP.

1 20 $4
2 25 4
3 30 6
7-65
Refer to the above data. If year 2 is chosen as the base year, the price index for year one is:
A. 80
B. 100
C. 120
D. 20

Difficulty: Easy
real GDP.
7-66

1 20 $4
2 25 4
3 30 6
Refer to the above data. If year 2 is chosen as the base year, in years 1 and 3 the price index
values, respectively, are:
A. 4 and 6.
B. 6 and 4.
C. 120 and 100.
D. 100 and 150.

Difficulty: Medium
real GDP.
148.
Nominal Year GDP Price index

1 $550 140
2 560 135
3 576 120
4 586 117
5 604 108
7-67
For the above economy, the real GDP in year 3 is:

A. $520
B. $485
C. $576
D. $480

Difficulty: Medium
real GDP.
7-68
149. A price index can rise from one year to the next even though:
A. some individual prices in the economy fall.
B. nominal GDP falls.
C. real GDP falls.
D. all of the above occur.

Difficulty: Medium
real GDP.
150. In one-year nominal GDP was $286 billion and the price index was 88. Real GDP in that
year was:
A. $252 billion.
B. $325 billion.
C. $308 billion.
D. $262 billion.

Difficulty: Medium
real GDP.
151. Following is data for a hypothetical economy. The base year is 2002 (Price index = 100).
Year Nominal GDP Price index

2003 $4,108 billion 112
2004 4,305 billion 115
2005 4,663 billion 119
2006 4,998 billion 124
7-69
Refer to the above data. Real GDP in 2006 was approximately:

A. $3,433 billion.
B. $3,743 billion.
C. $4,023 billion.
D. $4,031 billion.

Difficulty: Medium
real GDP.
7-70

2003 $4,108 billion 112
2004 4,305 billion 115
2005 4,663 billion 119
2006 4,998 billion 124
Refer to the above data. From 2003 to 2006, prices rose by:
A. 3 percent.
B. 7 percent.
C. 9 percent.
D. 10.7 percent.

Difficulty: Medium
real GDP.

2003 $4,108 billion 112
2004 4,305 billion 115
2005 4,663 billion 119
2006 4,998 billion 124
7-71
Refer to the above data. From 2005 to 2006, prices rose by approximately:
A. 2 percent.
B. 4.2 percent.
C. 6 percent.
D. 7 percent.

Difficulty: Medium
real GDP.
7-72
154. Consider the following data for a hypothetical economy:
Year Nominal GDP (in billions) Price index

1 $35 90
2 40 100
3 45 110
4 48 120
5 56 140
The economy's real GDP has declined between years:

A. 1 and 2.
B. 2 and 3.
C. 3 and 4.
D. 4 and 5.

Difficulty: Hard
real GDP.
155. Suppose nominal GDP was $360 billion in 2010 and $450 billion in 2020. The
appropriate price index was 100 in 2010 and 120 in 2020. It can be concluded that between
2010 and 2020 real GDP:
A. increased by about $15 billion.
B. decreased by about $32 billion.
C. increased by about $90 billion.
D. increased by about $117 billion.

Difficulty: Hard
real GDP.
7-73
156. (GDP figures are in billions of dollars.)
Year Nominal GDP Real GDP Price index

1 5,200 4,800
2 5,500 112
3 5,740 5,000
Refer to the above table. What was real GDP in Year 2?

A. $4,820 billion
B. $4,875 billion
C. $4,911 billion
D. $5,320 billion

Difficulty: Medium
real GDP.
157. (GDP figures are in billions of dollars.)
Year Nominal GDP Real GDP Price index

1 5,200 4,800
2 5,500 112
3 5,740 5,000
7-74
Refer to the above table. What is the GDP price index in Year 1?
A. 105.2
B. 108.3
C. 109.6
D. 111.5

Difficulty: Medium
real GDP.
7-75
158. Nominal GDP is adjusted for price changes through the use of:
A. the Consumer Price Index (CPI).
B. the Producer Price Index (PPI).
C. the GDP price index.
D. exchange rates.

Difficulty: Easy
real GDP.
159. The GDP deflator or price index equals:

A. gross private domestic investment less the consumption of fixed capital.
B. gross national product less net foreign factor income earned in the United States.
C. nominal GDP divided by real GDP.
D. real GDP divided by nominal GDP.

Difficulty: Easy
real GDP.
If the per unit prices of the three goods each were $1 in a base year used to construct a GDP
price index, then the GDP price index in the current year is:
A. 205.5.
B. 255.5.
C. 39.3.
D. 100

Difficulty: Medium
real GDP.
7-76
161. If nominal GDP in some year is $280 and real GDP is $160 the GDP price index for that
year is:
A. 175
B. 57
C. 160
D. 280

Difficulty: Medium
real GDP.
162. The GDP price index:

A. includes fewer goods and services than the consumer price index.
B. is identical to the consumer price index.
C. is another term for the producer price index.
D. includes all goods comprising the nation's domestic output.

Difficulty: Easy
real GDP.
163. If real GDP in a particular year is $80 billion and nominal GDP is $240 billion, the GDP
price index for that year is:
A. 100
B. 200
C. 240
D. 300

Difficulty: Medium
real GDP.
7-77
164. In an economy, the total expenditures for a market basket of goods in year 1 (the base
year) was $5,000 billion. In year 2, the total expenditure for the same market basket of goods
was $5,500 billion. What was the GDP price index for the economy in year 2?
A. 100
B. 110
C. 115
D. 120

Difficulty: Medium
real GDP.
165. Suppose a nation's nominal GDP was $972 billion in 2017 and the general price index
was 90 in 2017. To make the value of GDP in 2017 comparable with the value of GDP in the
base year, the value of GDP in 2017 must be:
A. adjusted downward to $678 billion.
B. deflated to $896 billion.
C. inflated to $1,080 billion.
D. deflated to $1,080 billion.

Difficulty: Hard
real GDP.
Topic: 07-30 Dividing Nominal Gdp By The Price Index
7-78
166. Refer to the data below and using year 1 as the base year, the real GDP in year 4 was
approximately:

1 $3,166 100
2 $3,402 104
3 $3,774 108
4 $3,989 112
A. $3,989 billion.
B. $3,562 billion.
C. $3,774 billion.
D. $3,494 billion.

Difficulty: Medium
real GDP.
167. Historically, real GDP has increased less rapidly than nominal GDP because:
A. price indices have not reflected improvements in product quality.
B. the general price level has increased.
C. technological progress has resulted in more efficient production.
D. the general price level has declined.

Difficulty: Medium
real GDP.
7-79
168. In 2001, in calculation of the implicit price index, Statistics Canada switched from fixed
based price index method to a chain-weighted index. The main reason for this was:
A. to avoid complex calculation of the fixed based price index.
B. to better represent the weight of each category especially the information technology
sector.
C. to avoid underestimation of the GDP growth, due to the rapid growth in the information
technology sector.
D. to be able to use the relatively constant weights for the items in the GDP year after year.

Difficulty: Medium
real GDP.
7-80
169. The Chain-weighted index links each year to the previous year through:
A. the use of nominal GDPs in prior years.
B. the use of both the prior year prices and current year prices.
C. the use of real GDPs in prior years.
D. the use of base year implicit price index.

Difficulty: Medium
real GDP.
170. GDP excludes:

A. the market value of household production.
B. the production of illegal goods.
C. off-the-books production.
D. all of the above.

Difficulty: Easy
171. Assume that the size of the underground economy increases both absolutely and
relatively over time. As a result:
A. real GDP will rise more rapidly than nominal GDP.
B. GDP will tend to increasingly understate the level of output through time.
C. GDP will tend to increasingly overstate the level of output through time.
D. the accuracy of GDP will be unaffected through time.

Difficulty: Easy
Learning Objective: 07-05 List and explain some limitations of the GDP measure.
Topic: 07-13 Noninvestment Transactions
7-81
172. GDP excludes most non-market transactions. Therefore, GDP tends to:
A. underestimate the rate of inflation in the economy.
B. overestimate the rate of inflation in the economy.
C. overestimate the amount of production of the economy.
D. underestimate the amount of production in the economy.

Difficulty: Easy
173. Gordon James is a person who sells narcotics "on the street." This type of illegal
activity:
A. would be considered double counting in calculating GDP.
B. is estimated and included in GDP figures.
C. is excluded from GDP figures.
D. causes GDP to be overstated.

Difficulty: Easy
174. GDP tends to underestimate the productive activity in the economy because it excludes:
A. spending by the government on military goods.
B. spending by businesses to reduce the level of pollution.
C. the work done by construction companies to remodel homes.
D. the personal labour time homeowners spend on home repairs.

Difficulty: Easy
7-82
175. GDP tends to underestimate the productive activity in the economy because it excludes
the value of output from:
A. public transfer payments to households.
B. the consumption of fixed capital.
C. intermediate goods.
D. the underground economy.

Difficulty: Easy
176. The growth of GDP may understate changes in the economy's well-being over time if
the:
A. distribution of income becomes increasingly unequal.
B. quality of products and services improves.
C. environment deteriorates because of pollution.
D. amount of leisure decreases.

Difficulty: Easy
Topic: 07-15 Government Purchases (G)
177. GDP data are criticized as being inaccurate measures of economic welfare because:
A. they do not take into account changes in the amount of leisure.
B. they do not take into account changes in product quality.
C. they do not take into account the adverse effects of economic activity on the environment.
D. all of these.

Difficulty: Medium
7-83
178. The GDP tends to:

A. overstate economic welfare because it does not include certain non-market activities such
as the productive work of housewives.
B. understate economic welfare because it includes expenditures undertaken to offset or
correct pollution.
C. understate economic welfare because it does not take into account increases in leisure.
D. overstate economic welfare because it does not reflect improvements in product quality.

Difficulty: Easy
179. GDP tends to overstate economic well-being because it takes into account:
A. all of the illegal activities conducted by organized crime in the economy.
B. spending on intermediate goods that are used to produce final goods.
C. health care costs related to the consumption of products with adverse health effects.
D. the personal labour time that car owners spend working on car repairs and maintenance of
their vehicles.

Difficulty: Medium
180. GDP tends to overstate economic well-being because it takes into account:
A. improvements in product quality over time.
B. expenditures undertaken to correct pollution.
C. illegal activities of individuals and businesses.
D. nonmarket activities, such as the productive work of homemakers.

Difficulty: Easy
7-84
181. Environmental pollution is accounted for in:

A. GDP.
B. DI.
C. PI.
D. None of these.

Difficulty: Medium
182. Some of the production of an economy creates pollution. As a result:

A. nominal GDP is greater than real GDP.
B. real GDP is greater than nominal GDP.
C. GDP tends to understate social welfare.
D. GDP tends to overstate social welfare.

Difficulty: Easy
183. The gross domestic product of Canada measures aggregate output produced:
A. within Canada's borders.
B. by all Canadian companies.
C. by all Canadian citizens only.
D. by Canadian companies and citizens only.

Difficulty: Easy
7-85
184. Gross domestic product is what type of measure?

A. Monetary
B. Fiscal
C. Physical
D. Cash

Difficulty: Easy
Topic: 07-03 A Monetary Measure
185. Gross domestic product measures the monetary value of:

A. finished goods.
B. raw materials.
C. intermediate goods.
D. Taxes

Difficulty: Medium
186. Which of the following transactions is included in GDP?

A. The production of text books
B. Public transfer payments
C. Private transfer payments
D. Transactions in the stock market

Difficulty: Easy
7-86
187. Based on Canada's 2017 GDP calculation (using the expenditure approach), what areas
contributed the most toward Canada's GDP (calculation based on the expenditure approach) in
2017?
A. Personal consumption expenditure
B. Gross investment expenditure
C. Government purchases of goods and services
D. Net exports

Difficulty: Medium
Learning Objective: 07-02 Describe how expenditures on goods and services can be summed to determine GDP.
188. Which of the following of the countries listed and using Image 7.1 Global Perspective,
which country had the highest GDP in 2016?
A. Japan
B. Germany
C. France
D. United Kingdom

Difficulty: Medium
Learning Objective: 07-02 Describe how expenditures on goods and services can be summed to determine GDP.
Topic: 07-17 Putting It All Together: GDP = C + Ig + G + Xn
189. Using the income approach for calculating GDP, which of the following was the largest
contributor to Canada's national income in 2017?
A. Employee compensation
B. Gross operating surplus
C. Gross mixed income
D. Taxes

Difficulty: Medium
Topic: 07-19 Compensation of Employees
7-87
190. Which of the following is the first step for deriving real GDP from nominal GDP?
A. Finding nominal GDP for each year
B. Finding real GDP for each year
C. Computing a price index
D. Dividing each year's nominal GDP by the price year's price index

Difficulty: Medium
real GDP.
Topic: 07-31 An Alternative Method
191. As of the publication date of the text, what years is currently being used by Statistics
Canada as the base year for calculating the price index?
A. 2001
B. 2007
C. 2010
D. 2017

Difficulty: Medium
real GDP.
Topic: 07-32 Real-World Considerations and Data
192. Which of the following is a shortcoming(s) of GDP as a measure of total output?

A. GDP does not include unpaid work.
B. GDP does not include activities in the underground economy.
C. GDP does not capture the full value of improvements in product quality.
D. All the answer choices are correct.

Difficulty: Medium
Topic: 07-34 Measurement Shortcomings
7-88
7-89
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No es amor, es culto lo que predica Amicis por la Patria; no es amor,
es veneración lo que siente por la Escuela, y no se forman Patria y
Escuela en el cerebro del niño como simples ideas abstractas, como
ideas que se sabe encarnan algo bello; pero cuya significación, en
fuerza de complexa, no se conoce con claridad; los cuentos, las
anécdotas, el eslabonamiento de hechos que se suceden en
“Cuore”, les dan realidad, las hacen aparecer como entidades
tangibles que se aman, no porque se haya aprendido sólo que
deben amarse, sino porque se ha comprendido que merecen amor.
El niño, pues, aprende con la lectura de “Corazón”; ejercita sus

facultades; hace una gimnasia constante, tanto intelectual como
moral; en su alma, que las páginas de Amicis ponen en un estado
de receptividad, de excitabilidad notables, la menor impresión
produce un estremecimiento, como al roce suavísimo del arco vibran
las cuerdas tensas de un violín. Estos estremecimientos repetidos
que causa la lectura de “Corazón”, van dejando en el alma del niño
hondas huellas, van cavando surcos en sus cerebros, surcos que se
llenan de nociones nuevas, de sentimientos hechos ideas, de
imágenes cristalizadas en recuerdos, y las nociones se agrupan, y
chocan, y se desmenuzan en un poderoso análisis, y aparecen las
ideas abstractas, y los recuerdos resucitan imágenes, y éstas
despiertan sentimientos que van a excitar la voluntad dictadora de
actos, y como el resultado depende siempre de los agentes que lo
han producido, siendo justas las nociones, siendo las imágenes
representación de figuras hermosas, siendo los sentimientos
elevados, la volición no se desvía del camino recto, el acto que
ejecuta el niño es bueno.
Para aquéllos en cuya frente la Vida va marcando ya surcos; para

aquellos que se ven ya muy lejos de los días de la niñez, las
lecturas que forman el libro de Amicis, son como un rocío que
refresca las almas, que hace desaparecer las arrugas del rostro, que
hace huir las sombras de los cerebros.
Al leer el “Diario de un niño”, como a un conjuro mágico, retrocede la
imaginación hasta los años de la infancia; se vuelve a ver la cara
amable del maestro; se escuchan las risas de compañeros ya
olvidados; surge toda una época de días felices, de regocijos sanos,
de inquietudes pueriles, y el recuerdo, disipando las congojas
continuas, las envidias, los odios, las luchas todas de la vida, hace
aparecer en los labios marchitos por el mentir diario a que obliga la
existencia, una sonrisa vivificadora de alegría pura, y en los ojos,
cansados de contemplar miserias y de llorar penas, se forma como
una tela opaca que mucho se parece a una lágrima, a una lágrima
que arranca el contraste de lo que se es ahora, ya hombre, y de lo
que se era entonces, cuando se iba a la Escuela.
Edmundo de Amicis ha muerto; el Poeta ha callado para siempre.
Deja muchas obras tras sí; deja nimbado su recuerdo por una
aureola de triunfos, y entre todas sus producciones, como la estrella
“alfa” de una constelación grandiosa, brilla “Corazón”, el libro
dedicado a los niños, el que más vivió el Poeta, aquel sobre el que
derramó más que sobre ningún otro el sentimentalismo de su alma,
de su alma inmensamente candorosa, inmensamente bella.
Edmundo de Amicis ha muerto; el Poeta ha callado para siempre; no

importa; su recuerdo vive.
“Corazón”, su libro amado, continúa perfumando cerebros de niños;

las bellas páginas de “Cuore”—pétalos blancos—siguen cayendo
sobre las almas infantiles—tiernos capullos de rosas—como una
lluvia de flores sobre flores.
México, septiembre de 1908.

ADVERTENCIA DEL AUTOR
El presente libro se halla especialmente dedicado a los chicos de

nueve a trece años de las escuelas elementales, pudiéndose titular
HISTORIA DE UN CURSO ACADÉMICO, ESCRITA POR UN
ALUMNO DE TERCERA, EN UNA ESCUELA MUNICIPAL DE
ITALIA.
Al decir escrita por un alumno, no quiero dar a entender que haya

redactado la obra tal cual sale a luz, sino que el escolar iba
anotando en un cuaderno, a su manera, lo que había visto, oído,
pensado en las aulas y fuera de ellas, mientras que su padre al fin
de año corrigió este DIARIO, procurando no alterar lo esencial de
aquellas impresiones, en cuanto fué posible. Cuatro años después,
el estudiante, ya en el Colegio Secundario, leyó de nuevo el
manuscrito, añadió o suprimió algo que a su juicio no era fiel
trasunto del pasado, y así se da a la estampa.
Ahora, niños y jóvenes: leed estas páginas; que espero os

interesen, y cuya lectura confío que os será saludable.
OCTUBRE
EL PRIMER DÍA DE ESCUELA

Lunes 17
OY ¡primer día de clase! ¡Pasaron como un sueño aquellos tres

meses de vacaciones, consumidos en el campo! Mi madre me
condujo, esta mañana a la sección Bareti, para inscribirme en la
tercera elemental. Recordaba el campo e iba de mala gana. Todas
las calles que desembocan cerca de la escuela
hormigueaban de chiquillos; las dos librerías próximas
estaban llenas de padres y madres que compraban
carteras, cuadernos, cartillas, plumas, lápices; en la
puerta misma se agrupaba tanta gente, que el bedel,
auxiliado de los guardias municipales, tuvo necesidad de poner
orden. Al llegar a la puerta sentí un golpecito en el hombro; volví la
cara: era mi antiguo maestro de la segunda, alegre, simpático, con
su pelo rubio rizoso y encrespado, que me dijo: “Conque, Enrique,
¿es decir que nos separamos para siempre?”. Demasiado lo sabía
yo; y, sin embargo, ¡aquellas palabras me hicieron daño! Entramos,
por fin, a empellones. Señoras, caballeros, mujeres del pueblo,
obreros, oficiales, abuelas, criadas, todos con niños de la mano y
cargados con los libros y objetos de que antes hablé, llenaban
vestíbulo y escaleras, produciendo un rumor como cuando se sale
del teatro. Volví a ver con alegría aquel gran zaguán del piso bajo,
con las siete puertas de las siete clases, por donde pasé casi todos
los días durante tres años. Las maestras de los párvulos iban y
venían entre la muchedumbre. La que fué mi profesora de la primera
superior, me saludó diciendo: “Enrique, tú vas este año al piso
principal, y ni siquiera te veré al entrar o salir!”. Y me miró con
tristeza. El director estaba cercado por una porción de madres que
le hablaban a la vez, pidiendo puesto para sus hijos; y por cierto que
me pareció que tenía más canas que el año pasado. Encontré
algunos chicos más gordos y más altos de como los dejé; abajo,
donde ya cada cual estaba en su sitio, vi algunos pequeñines que
no querían entrar en el aula y se defendían como potrillos,
encabritándose; pero a la fuerza les hacían entrar en clase, y aun
así, algunos se escapaban después de estar sentados en los
bancos; otros, al ver que se marchaban sus padres, rompían a llorar,
y era preciso que volvieran las mamás, con lo que la profesora se
desesperaba. Mi hermanito se quedó en la clase de la maestra
Delcato: a mí me tocó el maestro Perbono, en el piso primero. A las
diez, cada cual estaba en su sección: cincuenta y cuatro es la mía;
sólo quince o dieciséis eran antiguos compañeros míos de la
segunda, entre ellos Deroso, el que siempre sacaba el primer
premio. ¡Qué triste me pareció la escuela recordando los bosques y
las montañas donde acababa de pasar el verano! Hasta me
acordaba con pena de mi antiguo maestro, tan bueno, que se reía
tanto con nosotros; tan chiquitín, que casi parecía un compañero; y
sentía no verlo allí con su cabeza rubia enmarañada. Nuestro
profesor de ahora es alto, sin barba, con el cabello gris, es decir, con
algunas canas, y tiene una arruga recta que parece cortarle la
frente; su voz es ronca, y nos mira fijo, fijo, a uno después de otro, a
todos, como si quisiera leer dentro de nosotros; no se ríe nunca. Yo
decía para mí: He aquí el primer día. ¡Nueve meses por delante!
“¡Cuántos trabajos, cuántos exámenes mensuales, cuántas fatigas!”.
Sentía verdadera necesidad de encontrar a mi madre a la salida, y
corrí a besarle la mano. Ella me dijo: “¡Ánimo, Enrique;
estudiaremos juntos las lecciones!”. Y volví a casa contento. Pero no
tengo el mismo maestro, aquél tan bueno, que siempre sonreía, y no
me ha gustado tanto esta clase de la escuela como la otra.
NUESTRO MAESTRO
Martes 18.—También me gusta mi nuevo maestro desde esta
mañana. Durante la entrada, mientras él se colocaba en su sitio, se
iban asomando a la puerta de la clase, de cuando en cuando, varios
de sus discípulos del año anterior para saludarle: “Buenos días,
señor maestro; buenos días, señor Perbono”. Algunos entraban, le
cogían la mano y escapaban. Se veía que lo querían mucho y que
habrían deseado seguir con él. Él les respondía: “Buenos días”, y
les apretaba la mano; pero no miraba a ninguno; a cada saludo
permanecía serio, con su arruga en la frente, vuelto hacia la
ventana, y miraba al tejado de la casa vecina, y en lugar de
alegrarse de aquellos saludos, parecía que le daban pena. Luego
nos miraba uno después de otro, con mucha fijeza. Empezó a dictar,
paseando entre los bancos, y al ver a un chico que tenía la cara muy
encarnada y con unos granitos, dejó de dictar, le tomó la barba y le
preguntó qué tenía; le tocó la frente para ver si sentía calor. Mientras
tanto, un chico se puso de pie en el banco y empezó a hacer
tonterías. Se volvió de pronto, como si lo hubiera adivinado: el
muchacho se sentó y esperó el castigo, encarnado como la grana y
con la cabeza baja. El maestro se fué a él, le colocó una mano
sobre la cabeza, y le dijo: “No lo vuelvas a hacer”. Ni una palabra
más. Se dirigió a la mesa, y acabó de dictar. Cuando concluyó, nos
miró un instante en silencio; con voz lenta, y aunque ronca,
agradable, empezó a decir: “Escuchad, hemos de pasar juntos un
año. Procuremos pasarlo lo mejor posible. Estudiad y sed buenos.
Yo no tengo familia. Vosotros sois mi familia. El año pasado todavía
tenía a mi madre: se me ha muerto. Me he quedado solo. No tengo
en el mundo más que a vosotros; no tengo otro afecto, ni otro
pensamiento. Debéis ser mis hijos. Os quiero bien, y es preciso que
me paguéis en igual moneda. Deseo no castigar a ninguno.
Demostrad que tenéis corazón; nuestra escuela constituirá una
familia, y vosotros seréis mi consuelo y mi orgullo. No os pido
promesas de palabra, porque estoy seguro que en el fondo de
vuestra alma ya lo habéis prometido, y os lo agradezco”. En aquel
momento apareció el bedel a dar la hora. Todos abandonamos los
bancos despacio y silenciosos. El muchacho que se había levantado
de pie en el banco, se acercó al maestro y le dijo con voz trémula:
“¡Perdóneme usted!”. El maestro le besó en la frente, y le contestó:
“Está bien; anda, hijo mío”.
UNA DESGRACIA
Viernes 21.—Ha empezado el año con una desgracia. Al ir esta
mañana a la escuela, refiriendo a mi padre las palabras del maestro,
vimos de pronto la calle llena de gente que se apiñaba delante del
colegio. Mi padre dijo al punto: “Una desgracia. Mal empieza el año”.
Entramos con gran trabajo. El conserje estaba rodeado de padres y
de muchachos, que los maestros no conseguían hacer entrar en las
clases, y todos se encaminaban hacia el cuarto del director,
oyéndose decir: “¡Pobre muchacho! ¡Pobre Roberto!”. Por cima de
las cabezas, en el fondo de la habitación llena de gente, se veían los
quepís de los guardias municipales y la gran calva del señor
director; después entró un caballero con sombrero de copa, y todos
dijeron: “Es el médico”. Mi padre preguntó a un profesor: “¿Qué ha
sucedido?”. “Le ha pasado la rueda por el pie”, respondió. “Se ha
roto el pie—dijo otro—. Era un muchacho de la clase segunda, que
yendo a la escuela por la calle de Dora Grosa, y viendo a un niño de
la primera elemental, escapado de la mano de su madre, caer en
medio del arroyo a pocos pasos de un ómnibus que se echaba
encima, acudió valientemente en su auxilio, lo cogió y lo puso en
salvo; pero no habiendo estado listo para retirar el pie, la rueda del
ómnibus le había pasado por encima. Es hijo de un capitán de
artillería”. Mientras nos contaban esto, entró, como loca, una señora
en la habitación, abriéndose paso: era la madre de Roberto, a la
cual habían llamado; otra señora salió a su encuentro, y, sollozando,
le echó los brazos al cuello: era la madre del otro niño, del salvado.
Ambas entraron en el cuarto y se oyó un desesperado grito: “¡Oh,
Roberto mío, hijo mío!”. En aquel momento se detuvo un carruaje
delante de la puerta, y poco después se presentó el director con el
muchacho en brazos, que apoyaba la cabeza sobre el hombro de
aquél, pálido y cerrados los ojos. Todos permanecimos callados: se
oían los sollozos de las madres. El director se detuvo un momento y
levantó al muchacho con sus dos brazos para que lo viera la gente,
y entonces, maestros, maestras, padres y muchachos exclamaron
todos a un tiempo: “¡Bravo, Roberto! ¡Bravo, pobre niño!”, y le
enviaban saludos los maestros, y los muchachos que estaban allí
cerca le besaban manos y brazos: él abrió los ojos y murmuró: “¡Mi
cartera!”. La madre del chiquillo salvado se la enseñó llorando y le
dijo: “¡Te la llevo yo, hermoso; te la llevo yo!”. Y al decirlo sostenía a
la madre del herido, que se cubría la cara con las manos. Salieron,
acomodaron al muchacho en el carruaje, y el coche partió. Entonces
entramos todos silenciosos en la escuela.
EL MUCHACHO CALABRÉS
Sábado 22.—Ayer tarde, mientras el maestro nos daba noticias del
pobre Roberto, que andaría ya con muletas, entró el director con
otro nuevo alumno, un muchacho de cara muy morena, de cabello
negro, ojos también negros y grandes, con las cejas espesas y
juntas; todo su vestido era de color obscuro y llevaba un cinturón de
cuero negro alrededor del talle. El director, después de haber
hablado al oído con el maestro, salió dejándole a su lado al
muchacho, que nos miraba espantado. Entonces el maestro lo cogió
de la mano, y dijo a la clase: “Os debéis alegrar. Hoy entra en la
escuela un nuevo alumno, nacido en la provincia de Calabria, a más
de cincuenta leguas de aquí. Quered bien a vuestro compañero que
de tan lejos viene. Ha nacido en la tierra gloriosa que dió a Italia
antes hombres ilustres, y hoy le da honrados labradores y valientes
soldados; es una de las comarcas más hermosas de nuestra patria,
en cuyas espesas selvas y elevadas montañas habita un pueblo
lleno de ingenio y de corazón esforzado. Tratadlo bien, a fin de que
no sienta estar lejos del país natal; hacedle ver que todo chico
italiano encuentra hermanos en toda escuela italiana donde ponga
el pie”. Dicho esto, se levantó y nos enseñó en el mapa de Italia el
punto donde está la provincia de Calabria. Después llamó a Ernesto
Deroso, que es el que saca siempre el primer premio. Deroso se
levantó. “Ven aquí”, añadió el maestro. Deroso salió de su banco, se
colocó junto a la mesa, enfrente del calabrés. “Como el primero de
la escuela—dijo el profesor—, da el abrazo de bienvenida, en
nombre de toda la clase, al nuevo compañero; el abrazo de los hijos
del Piamonte al hijo de Calabria”. Deroso murmuró con voz
conmovida: “¡Bienvenido!”, y abrazó al calabrés; éste le besó en las
dos mejillas con fuerza. Todos aplaudieron. “¡Silencio!—gritó el
maestro—; en la escuela no se aplaude”. Pero se veía que estaba
satisfecho, y hasta el calabrés parecía hallarse contento. El maestro
le designó sitio y le acompañó hasta su banco. Después repuso:
“Acordaos bien de lo que os digo. Lo mismo que un muchacho de
Calabria está como en su casa en Turín, uno de Turín debe estar
como en su propia casa en Calabria; por esto lidió nuestro país
cincuenta años y murieron treinta mil italianos. Os debéis respetar y
querer todos mutuamente; cualquiera de vosotros que ofendiese a
este compañero por no haber nacido en nuestra provincia, se haría
para siempre indigno de mirar con la frente levantada la bandera
tricolor”. Apenas el calabrés se sentó en su sitio, los más próximos
le regalaron plumas y estampas, y otro chico, desde el último banco,
le mandó un sello de Suecia.
MIS COMPAÑEROS
Martes 25.—El muchacho que envió el sello al calabrés, es el que
me gusta más de todos. Se llama Garrón, y es el mayor de la clase;
tiene cerca de catorce años, la cabeza grande y los hombres
anchos; es bueno, se le conoce hasta cuando ríe, y parece que
piensa siempre como un hombre. Ahora conozco yo a muchos de
mis compañeros. Otro me gusta también, se apellida Coreta, y usa
un chaleco de punto, color de chocolate, y gorra de piel. Siempre
está alegre. Es hijo de un empleado de ferrocarriles que ha sido
soldado en la guerra de 1866, de la división del príncipe Humberto, y
que dicen tiene tres cruces. El pequeño Nelle es un pobre
jorobadito, gracioso, de rostro descolorido. Hay uno muy bien
vestido, que se está siempre quitando las motas de la ropa, y de
nombre Votino. En el banco delante del mío hay otro muchacho que
llaman el albañilito, porque su padre es albañil; de cara redonda
como una manzana y de nariz roma. Tiene particular habilidad para
poner el hocico de liebre; todos le piden que lo haga y se ríen; lleva
un sombrerillo viejo que se lo encasqueta como pañuelo. Al lado del
albañilito está Garofi, un tipo alto y grueso, con la nariz de pico de
loro y los ojos muy pequeños, que anda siempre vendiendo plumas,
estampas y cajas de fósforos, y se escribe la lección en las uñas
para leerla a hurtadillas. Hay después un señorito, Carlos Nobis, que
parece algo orgulloso y se halla entre dos muchachos que me son
simpáticos: el hijo de un forjador de hierro, metido en una chaqueta
que le llega hasta las rodillas, pálido, con palidez de enfermo, que
parece siempre asustado y que no se ríe nunca; y otro con los
cabellos rojos, que tiene un brazo inmóvil y lo lleva pegado al
cuerpo; su padre está en América y su madre vende hortalizas. Es
también un tipo curioso mi vecino de la izquierda: Estardo, pequeño
y tosco, sin cuello, gruñón; no habla con nadie, y creo que entiende
poco; pero no quita el ojo del maestro, sin mover los párpados, con
la frente arrugada y apretados los dientes; y si le preguntan cuando
el maestro habla, la primera y la segunda vez no responde, y la
tercera pega un cachete. Tiene a su lado a uno de fisonomía
obscura y sucia, que se llama Franti y que fué expulsado ya de otra
escuela. Hay también dos hermanos, con vestidos iguales, que
parecen gemelos y que llevan sombreros calabreses, con plumas de
faisán. Pero el mejor de todos, el que tiene más ingenio, el que
también será este año el primero, de seguro, es Deroso; y el
maestro, que ya lo ha comprendido así, le pregunta siempre. Yo, sin
embargo, quiero más a Precusa, el hijo del herrero, el de la
chaqueta larga, el que parece enfermo. Dicen que su padre le pega.
Es muy tímido; cada vez que pregunta o toca a alguien, dice:
“Dispénsame”; y mira constantemente con ojos tristes y
bondadosos. Garrón, sin embargo, es el mayor y el mejor de todos.
UN RASGO GENEROSO
Miércoles 26.—Precisamente esta mañana se ha dado a conocer
Garrón. Cuando entré en la escuela—un poco tarde, porque me
había detenido la maestra de la primera clase superior, para
preguntarme a qué hora podía ir a casa y encontrarnos—el maestro
no estaba allí todavía, y tres o cuatro muchachos atormentaban al
pobre Crosi, el pelirrojo del brazo malo y cuya madre es verdulera.
Le pegaban con reglas, le tiraban a la cara cáscaras de castañas y
le ponían motes y remedaban, imitándolo con su brazo pegado al
cuerpo. El pobre estaba solo en la punta del banco, asustado, y
daba compasión verlo, mirando ya a uno, ya a otro, con ojos
suplicantes para que lo dejaran en paz; pero los otros le vejaban
más, y entonces él empezó a temblar y a ponerse encarnado de
rabia. De pronto Franti, el de la cara sucia, saltó sobre un banco, y
haciendo ademán de llevar dos cestas en los brazos, remedó a la
madre de Crosi cuando venía a esperarlo antes a la puerta, pues a
la sazón no iba por estar enferma. Muchos se echaron a reír a
carcajadas. Entonces Crosi perdió la paciencia, y cogiendo un
tintero se lo tiró a la cabeza con toda su fuerza; pero Franti se
agachó, y el tintero fué a dar en el pecho del maestro, que entraba
precisamente. Todos se fueron a su puesto, y callaron atemorizados.
El maestro, pálido, subió a la mesa, y con voz alterada preguntó:
“¿Quién ha sido?”; ninguno respondió. El maestro gritó otra vez,
alzando aún más la voz: “¿Quién?”. Entonces Garrón, dándole
lástima del pobre Crosi, se levantó de pronto, y dijo resueltamente:
“Yo he sido”.
El maestro lo miró, miró a los alumnos, que estaban atónitos, y

luego repuso con voz tranquila: “No has sido tú”. Y después de un
momento, añadió: “El culpable no será castigado. ¡Que se levante!”.
Crosi se levantó y prorrumpió a llorar: “Me pegaban, me insultaban,
yo perdí la cabeza y tiré...”, “Siéntate—interrumpió el maestro—.
¡Que se levanten los que le han provocado!”. Cuatro se levantaron,
con la cabeza baja.
“Vosotros—dijo el maestro—habéis insultado a un compañero que

no os provocaba, os habéis reído de un desgraciado y habéis
golpeado a un débil que no se podía defender. Habéis cometido una
de las acciones más bajas y más vergonzosas con que se puede
manchar criatura humana. ¡Cobardes!”.
Dicho esto, salió por entre los bancos, tomó por la cara a Garrón,
que estaba con la vista en el suelo, y alzándole la cabeza y
mirándole fijamente, le dijo: “¡Tienes un alma noble!”.
Garrón, aprovechando la ocasión, murmuró no sé qué palabras al

oído del maestro, y éste, volviéndose hacia los cuatro culpables, dijo
bruscamente: “Os perdono”.
MI MAESTRA DE LA PRIMERA CLASE SUPERIOR

Jueves 27.—Mi maestra ha cumplido su promesa: ha venido hoy a
casa en el momento en que iba a salir con mi madre para llevar ropa
blanca a una pobre mujer, cuya necesidad habíamos leído
anunciada en los periódicos. Hacía ya un año que no la habíamos
visto en casa; así es que tuvimos todos grande alegría. Es siempre
la misma, pequeña, con su velo verde en el sombrero, vestida a la
buena de Dios y mal peinada, pues nunca tiene tiempo más que de
alisarse; pero un poco más descolorida que el año último, con
algunas canas y tosiendo mucho. Mi madre le preguntó: “¿Cómo va
esa salud, querida profesora? Usted no se cuida bastante”. “¡Eh!, no
importa”, respondió con una sonrisa alegre y melancólica a la vez:
“Usted habla demasiado alto—añadió mi madre—y trabaja
demasiado con los chiquitines”. Es verdad: siempre se está
escuchando su voz, lo recuerdo de cuando yo iba a la escuela;
habla mucho para que los niños no se distraigan, y no está un
momento sentada. Estaba bien seguro de que vendría, porque no se
olvida jamás de sus discípulos; recuerda sus nombres por años; los
días de los exámenes mensuales corre a preguntar al director qué
notas han sacado; los espera a la salida y pide que le enseñen sus
composiciones para ver los progresos que han hecho; así es que
van a buscarla al colegio muchos que usan ya pantalón largo y reloj.
Hoy volvía muy agitada del Museo, donde había llevado a sus
alumnos como todos los años, pues dedicaba siempre los jueves a
estas excursiones, explicándoles todo. ¡Pobre maestra, qué delgada
está! pero es siempre viva, y se reanima en cuanto habla de su
escuela. Ha querido que le enseñemos la cama donde me vió muy
malo hace dos años, y que ahora es de mi hermano; la ha mirado un
buen rato y no podía hablar de emoción. Se ha ido pronto para
visitar a un chiquillo de su clase, hijo de un sillero, enfermo con
sarampión, y tenía después de corregir varias pruebas, toda la tarde
de trabajo, y debía aún dar a primera noche una lección particular
de aritmética a cierta chica del comercio. “Y bien, Enrique—me dijo
al irse—: ¿quieres todavía a tu antigua maestra, ahora que
resuelves ya problemas difíciles y haces composiciones largas?”.
Me ha besado y me ha dicho, ya desde lo último de la escalera: “No
me olvides, Enrique”. ¡Oh, mi buena maestra, no me olvidaré de ti!
Aun cuando sea mayor, siempre te recordaré e iré a buscarte entre
tus chicuelos; y cada vez que pase por la puerta de una escuela y
sienta la voz de una maestra, me parecerá escuchar tu voz y
pensaré en los dos años que pasé en tu clase, donde tantas cosas
aprendí, donde tantas veces te vi enferma y cansada; pero siempre
animosa, indulgente, desesperada cuando uno tomaba un vicio en
los dedos al escribir, temblorosa cuando los inspectores nos
preguntaban, feliz cuando salíamos airosos, y constantemente
buena y cariñosa como una madre... ¡Nunca, nunca te olvidaré,
maestra querida...!
EN UNA BUHARDILLA
Viernes 28.—Ayer tarde fuí con mi madre y con mi hermana Silvia a
llevar ropa blanca a la pobre mujer recomendada por los periódicos;
yo llevé el paquete y Silvia el diario, con las iniciales del nombre y la
dirección. Subimos hasta el último piso de una casa alta y llegamos
a un corredor largo, donde había muchas puertas. Mi madre llamó
en la última; nos abrió una mujer, joven aún, rubia y macilenta, que
al pronto me pareció haberla visto ya en otra parte, con el mismo
pañuelo azul a la cabeza: “¿Es usted la del periódico?”, preguntó mi
madre. “Sí, señora; yo soy”. “Pues bien, aquí le traemos esta poca
de ropa blanca”. La pobre mujer no acababa de darnos las gracias,
ni de bendecirnos. Yo, mientras tanto, vi en un ángulo de la obscura
y desnuda habitación, un muchacho arrodillado delante de una silla,
con la espalda vuelta hacia nosotros, y que parecía escribiendo, y
escribía efectivamente, teniendo el papel en
la silla y el tintero en el suelo. ¿Cómo se las componía para escribir
casi a obscuras? Mientras decía esto para mis adentros, reconocí
los cabellos rubios y la chaqueta de mayoral de Crosi, el hijo de la
verdulera, el del brazo malo. Se lo dije muy bajo a mi madre
mientras la mujer recogía la ropa. “¡Silencio!—replicó mi madre—.
Puede ser que se avergüence al verte dar una limosna a su madre;
no le llames”. Pero en aquel momento, Crosi se volvió; yo no sabía
qué hacer, y entonces mi madre me dió un empujón para que
corriese a abrazarlo. Le abracé, y él se levantó y me tomó la mano.
“Henos aquí—decía entretanto su madre a la mía—; mi marido está
en América desde hace seis años, y yo, por añadidura, enferma y
sin poder ir a la plaza con verduras para ganarme algunos cuartos.
No me ha quedado ni tan sólo mesa para que mi pobre Luis pueda
trabajar. Cuando tenía abajo el mostrador en el portal, al menos
podía escribir sobre él; pero ahora me lo han quitado. Ni siquiera
algo de luz para estudiar y que no pierda la vista; y gracias que le
puedo mandar a la escuela, porque el Ayuntamiento le da libros y
cuadernos. ¡Pobre Luis, tú que tienes tanta voluntad de estudiar! ¡Y
yo, pobre mujer, nada puedo hacer por ti!”. Mi madre le dió cuanto
llevaba en el bolsillo, besó al muchacho y casi lloraba cuando
salimos, y tenía mucha razón para decirme: “¡Mira ese chico;
cuántas estrecheces pasa para trabajar, y tú que tienes tantas
comodidades, todavía te parece duro el estudio! ¡Oh, Enrique mío;
tiene más mérito su trabajo de un día, que todos tus estudios de un
año! ¿A cuál de los dos le deberían dar los primeros premios?”.
LA ESCUELA
Viernes 28.—“Sí, querido Enrique; el estudio es duro para ti, como
dice tu madre; no te veo ir a la escuela con aquel ánimo resuelto y
aquella cara sonriente que yo quisiera. Tú eres algo terco; pero, oye:
piensa un poco y considera ¡qué despreciables y estériles serían tus
días si no fueses a la escuela! Juntas las manos, de rodillas,
pedirías al cabo de una semana volver á ella, consumido por el
hastío y la vergüenza, cansado de tu existencia y de tus juegos.
Todos, todos estudian ahora, Enrique mío. Piensa en los obreros
que van a la escuela por la noche, después de haber trabajado todo
el día; en las mujeres, en las muchachas del pueblo que van a la
escuela los domingos después de haber trabajado toda la semana;
en los soldados que echan mano de libros y cuadernos cuando
vienen rendidos de sus ejercicios; piensa en los niños mudos y
ciegos que, sin embargo, estudian, y hasta en los presos, que
también aprenden a leer y escribir. Pero ¡qué más! Piensa en los
innumerables niños que se puede decir que a todas horas van a la
escuela en todos los países; míralos con la imaginación cómo van
por las callejuelas solitarias de la aldea, por las concurridas calles
de la ciudad, por la orilla de los mares y de los lagos, ya bajo un sol
ardiente, ya entre las nieblas, embarcados, en los países cortados
por canales, a caballo por las grandes llanuras, en zuecos sobre la
nieve, por valles y colinas, atravesando bosques y torrentes; por los
senderos solitarios de las montañas, solos, por parejas, en grupos,
en largas filas, todos con los libros bajo el brazo, vestidos de mil
modos, hablando miles de lenguas; desde las últimas escuelas de
Rusia, casi perdidas entre hielos, hasta las últimas de Arabia, a la
sombra de las palmeras; millones y millones de seres que van a
aprender, en mil formas diversas, las mismas cosas; imagina este
vastísimo hormiguero de niños de mil pueblos, este inmenso
movimiento, del cual formas parte, y piensa: si este movimiento
cesase, la humanidad caería en la barbarie; este movimiento es el
progreso, la esperanza, la gloria del mundo. Valor, pues, pequeño
soldado del inmenso ejército. Tus libros son tus armas, tu clase es tu
escuadra, el campo de batalla la tierra entera, y la victoria la
civilización humana. ¡No seas un soldado cobarde, Enrique mío—!
Tu padre”.
EL PEQUEÑO PATRIOTA PADUANO
(CUENTO MENSUAL)
Sábado 29.—No seré un soldado cobarde, no; pero iría con más
gusto a la escuela si el maestro nos refiriese todos los días un
cuento como el de esta mañana. Todos los meses, dice, nos contará
uno: nos lo dará escrito, y será siempre el relato de una acción
buena y verdadera, llevada a cabo por un niño. El pequeño patriota
paduano se llama el de hoy. Helo aquí: “Un naviero francés partió de
Barcelona, ciudad de España, para Génova, llevando a bordo
franceses, italianos, españoles y suizos. Había, entre otros, un chico
de once años, solo, mal vestido, que estaba siempre aislado como
animal salvaje, mirando a todos de reojo. Y tenía razón para mirar a
todos así. Hacía dos años que su padre y su madre, labradores de
los alrededores de Padua, le habían vendido al jefe de cierta
compañía de titiriteros, el cual, después de haberle enseñado a
hacer varios juegos a fuerza de puñetazos, puntapiés y ayunos, le
había llevado a través de Francia y España, pegándole siempre y no
quitándole nunca el hambre. Llegado a Barcelona, y no pudiendo
soportar ya los golpes y el ayuno, reducido a un estado que
inspiraba lástima, se escapó de su carcelero y corrió a pedir
protección al cónsul de Italia, el cual, compadecido, le había
embarcado en aquel bajel, dándole una carta para el alcalde de
Génova, que debía enviarlo a sus padres, a los padres que lo
habían vendido como vil bestia. El pobre muchacho estaba lacerado
y enfermucho. Le habían dado billete de segunda clase. Todos le
miraban, algunos le preguntaban; pero él no respondía, y parecía
que odiaba a todos: ¡tanto le habían irritado y entristecido las
privaciones y los golpes! Al fin tres viajeros, a fuerza de insistencia
en sus preguntas, consiguieron hacerle hablar, y en pocas palabras,
toscamente dichas, mezcla de español, de francés y de italiano, les
contó su historia. No eran italianos aquellos tres viajeros, pero le
comprendieron, y parte por compasión y parte por excitación del
vino, le dieron algunos cuartos, instándole para que contase más.
Habiendo entrado en la cámara en aquel momento algunas señoras,
los tres, por darse tono, le dieron aún más dinero, gritando: ‘¡Toma,
toma más!’. Y hacían sonar las monedas sobre la mesa. El
muchacho las cogió todas, dando las gracias a media voz, con aire
malhumorado; pero con una mirada, por primera vez en su vida,
sonriente y cariñosa. Después se fué sobre cubierta y permaneció
allí solo pensando en las vicisitudes de su vida. Con aquel dinero
podía tomar algún buen bocado a bordo, después de dos años que
sólo se alimentaba de pan; podía comprarse una chaqueta, apenas
desembarcara en Génova, después de dos años que iba vestido en
andrajos, y podía también, llevando algo a su casa, tener mejor
acogida del padre y de la madre que si hubiera llegado con los
bolsillos vacíos. Aquel dinero era para él casi una fortuna, y en esto
pensaba, consolándose, asomado a la claraboya, mientras los tres
viajeros conversaban sentados a la mesa, en medio de la cámara de
segunda clase. Bebían y hablaban de sus viajes y de los países que
habían visto, y de conversación en conversación vinieron a hablar
de Italia. Empezó uno a quejarse de sus fondas; otro, de sus
ferrocarriles, y, después, todos juntos, animándose, hablaron mal de
todo. Uno hubiera preferido viajar por la Laponia; otro decía que no
había encontrado en Italia más que estafadores y bandidos; el
tercero, que los empleados italianos no sabían leer. ‘Un pueblo
ignorante’, decía el primero. ‘Sucio’, añadió el segundo. ‘La...’,
exclamó el tercero; y quiso decir ladrón, pero no pudo acabar la
palabra. Una tempestad de cuartos y de medias pesetas cayó sobre
sus cabezas y sobre sus espaldas, y descargó sobre la mesa y
sobre el suelo con infernal ruido. Los tres se levantaron
furiosamente mirando hacia arriba, y aún recibieron un puñado de
cuartos en la cara. ‘Recobrad vuestro dinero—dijo con desprecio el
muchacho, asomado a la claraboya—: yo no acepto limosna de
quienes insultan a mi patria’.”

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True / False Questions

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2. All expenditures on new construction are included as investment in calculating GDP.

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5. Gross private domestic investment exceeds depreciation in an economy experiencing

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7. Interest on the public debt is included as a part of government purchases in determining

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9. Welfare payments to families with dependent children are included in GDP.

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Multiple Choice Questions

17. A nation's gross domestic product (GDP):

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18. The GDP is the:

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20. Gross domestic product (GDP) measures and reports output:

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21. GDP may be defined as:

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22. GDP is the total market value of:

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23. National income accountants can avoid multiple counting by:

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25. The term "final goods and services" refers to:

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26. GDP includes:

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27. Which is included in GDP?

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28. An example of a final good in national income accounts would be new:

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29. Which of the following is a final good or service?

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30. An example of an intermediate good or service would be:

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