When Measuring GDP

question 191

Multiple Choice

When measuring GDP,

• A)the government sector is not included because it is the public sector not the private sector.
• B)the government sector is counted,and the value of the government sector in GDP is equal to its tax revenue.
• C)only the federal government's expenditure on goods and services are included.
• D)the expenditure on goods and services by all levels of government are included.
• E)the government sector is not counted because it does not produce goods and services.

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Definitions:

Cognitive Economy

A principle of hierarchical semantic networks such that properties and facts about a node are stored at the highest level possible. For example, the fact “is alive” would be stored with the node for “animal” rather than stored with each node under animal such as “dog” and “cat.”

Encoding Specificity

A principle of retrieval asserted by Tulving. At the time material is first put into long-term memory, it is encoded in a particular way, depending on the context present at the time. At the time of recall, the person is at a great advantage if the same contextually supplied information available at encoding is once again available.

Connectionism

An approach to cognition emphasizing parallel processing of information through immense networks of interconnected nodes. Models developed in the connectionist tradition are sometimes declared to share certain similarities with the way collections of neurons operate in the brain; hence, some connectionist models are referred to as neural networks.

Hierarchical Network Model

A cognitive psychology theory proposing that mental categories are organized in a hierarchical manner, where broader categories encompass more specific ones.