Which of the following is not included in 2016's GDP?
A. the value of a motorcycle produced in the United States and exported to Japan
B. the commission earned by a headhunter when she locates a job for a client
C. the profit earned in 2016 from selling a stock that you purchased in 2008
D. the value of a motor that is used in the production of a lawn mower
Answer: D
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Assume that seigniorage and the government's primary deficit are both zero. A change in the debt-to-GDP ratio depends on just
A) the rate of inflation and total factor productivity. B) the growth rate of real GDP and the real interest rate. C) the growth rate of the money supply and the nominal interest rate. D) the growth rate of nominal GDP and the rate of inflation.
The rationing function of prices means that
A) government is responsible for setting the prices of basic foods. B) all goods and services are produced by large firms. C) businesses determine what goods consumers should purchase. D) buyers and sellers synchronize their decisions through the price system.
Explain how comparative advantage, specialization and division of labor are related
What will be an ideal response?
Price discrimination is illegal in the United States
Indicate whether the statement is true or false