GDP does not directly include intermediate goods because
A) intermediate goods are not valuable.
B) intermediate goods are not useful to consumers.
C) that would count the intermediate goods twice.
D) that would understate the true size of GDP.
C
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If the supply curve is vertical, then supply is
A) relatively elastic. B) perfectly elastic. C) unit elastic. D) perfectly inelastic.
Full employment is the situation in which the economy operates at an unemployment rate equal to the sum of:
a. structural and frictional unemployment. b. cyclical and frictional unemployment. c. structural and cyclical unemployment. d. structural, frictional, and cyclical unemployment.
A decrease in the interest rate shifts the money demand curve to the right
a. True b. False
Too much of society’s scarce resources are used to produce goods in monopoly markets.
Answer the following statement true (T) or false (F)