Which of the following transactions would be included in the calculation of Gross Domestic Product (GDP)?
A. the purchase of a second-hand lawnmower from your neighbor
B. the purchase of a share of stock in Apple
C. the purchase of wheat by a baker to make bread
D. the purchase of legal services
Answer: D
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Refer to the table above. If good S is capital intensive, then following the Heckscher-Ohlin Theory
A) country B will export good S. B) country A will export good S. C) both countries will export good S. D) trade will not occur between these two countries. E) both countries will import good S.
Innovations that generate profit for a firm's owners include developing
a. both c and d b. all of the following c. markets in new locations d. new products e. new production processes and distribution methods
Which of the following is an example of the bequest motive for saving?
A. Gerry and Terry put $2,000,000 in a trust fund that will go to their children when they die. B. Pat puts $400 per month in his 401(k) retirement account. C. Jordan sets aside $200 per month in case she has to pay for a new roof for her house. D. Chris keeps $15,000 in a money market account to pay expenses in case he loses his job.
Less-developed countries are poor for all of the following reasons except one. Which one?
A. The labor force is too small. B. Labor productivity is low. C. Investment funds tend to flow abroad D. Investment in human capital is very low.