Gross Domestic Product is the market value of
a. all exchanges made during the course of a year
b. all final goods produced during the course of a year
c. all monetary transactions during the course of a year
d. all the goods produced during the course of a year over and above what is required to maintain the population and the stock of capital
e. all final goods sold during the course of a year
B
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Producing a homogeneous product occurs in which of the following industries?
A) monopolistic competition and perfect competition B) perfect competition only C) oligopoly, monopolistic competition, and perfect competition D) oligopoly and perfect competition
Along a short-run aggregate supply curve, which of the following is (are) held constant?
A) real GDP B) aggregate demand C) input prices. D) profits
Opportunity cost is the difference between the benefits and the costs of a choice
a. True b. False
Privatization requires
a. transparency b. the training of competent managers c. the installation of adequate facilities for transportation d. All of the answers are correct e. None of the answers is correct