Which of the following would be directly counted in U.S. GDP for 2015?
A) a 2015 Mini Cooper, built in Oxford, England, and sold to a computer programmer in San Jose, California
B) a 1957 Chevy Bel Air convertible sold by its original owner to a car collector in Nashville on March 1, 2015
C) a 2015 Harley-Davidson Softail Deluxe, built in Pennsylvania, and sold to a kindergarten teacher in Moose Jaw, Saskatchewan, Canada
D) a Tesla car battery, built in 2014 in California, to be installed in a new 2015 Tesla Model S
C
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Briefly describe the three most widely followed stock indexes in the United States
What will be an ideal response?
What denotes the output level where economies of scale are exhausted and constant returns to scale begin?
a. minimum efficient scale b. break-even point c. efficient equilibrium d. zero economic profit
Which of the following is a function that money serves?
A) medium of exchange B) unit of account C) store of value D) All of the above are correct.
Gross domestic product (GDP) is
A. the sum of consumption expenditure, investment, government expenditure on goods and services, and net exports. B. the value of all final goods and services produced in a country during a year. C. All of these. D. the sum of compensation of employees, proprietors' income, net interest, rental income, corporate profits, depreciation, and indirect business taxes minus subsidies