In the United States in 2013, the Bureau of Economic Analysis began counting spending by firms and individuals on developing entertainment products as investment. This change will
A) add to GDP.
B) only change GDP if the development occurs within the borders of the United States.
C) take away from GDP.
D) not change GDP.
A
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Real GDP is the value of final goods and services produced in a year
A) expressed in the prices of that same year. B) during a recession. C) minus depreciation. D) expressed in the prices of a base year. E) minus the value of all the intermediate goods produced.
Discuss the problems that the EMU will continue to experience in the coming years
What will be an ideal response?
According to the graph shown, if this were depicting an autarky economy, the amount being bought domestically is:
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. 45 at $11 each.
B. 45 at $23 each.
C. 85 at $16 each.
D. 120 at $23 each.
If a customer buys an airline ticket based only on the price of the ticket, then the airline ticket is a(n)
A) experience good. B) credence good. C) inferior good. D) search good.