Which of the following would be included in the calculation of gross domestic product (GDP)?
a. The value of a used automobile purchased by Jim
b. The sale price of a new house purchased by Joe
c. The receipt of $100 in food stamps by Sandy
d. The $200 that Kurt spends on the purchase of bonds
e. The amount of money that Laurie receives as unemployment benefit after losing her job
b
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Aggregate supply
A) is the overall wealth within an economy. B) is the total of all planned production in an economy. C) is the total amount of raw materials available in an economy. D) is the total amount of money circulating in an economy.
Which of the following must be included in the calculation of GDP?
a. The sale of a used car to an auto dealer b. Bartering lawn care services for car washes c. A father staying at home to attend to his child d. The sale of an illegal cable box e. Payment made for a SAT preparation class
A reduced interest rate stimulates investment by
a. improving the prospects for a large profit from new investment b. enabling firms to ignore the opportunity costs of financing new investment c. increasing the opportunity cost of the investment d. reducing the cost of the investment e. signaling the existence of eager buyers
As conventionally measured, budget deficit and surplus calculations include the revenues and expenditures of
a. only current government operations; government trust funds are omitted. b. all government trust funds except Social Security. c. the Social Security Trust Fund, but other government trust funds are omitted. d. all government trust funds, including Social Security.