GDP excludes:
A. the market value of unpaid work in the home.
B. the production of services.
C. the production of nondurable goods.
D. positive changes in inventories.
A. the market value of unpaid work in the home.
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The high-income nations of the world—including the United States, Canada, the Western European countries, and Japan—typically have GDP per capita in the range of _____________.
a. $6,000 to $12,000 b. $20,000 to $50,000 d. $60,000 to $80,000 d. $80,000 to $120,000
Which of the following would be included in the consumption component of GDP?
a. Movie ticket sales b. Purchase of a new home c. Purchase of used clothes d. Purchase of a baseball card collection at a yard sale e. Purchase of a chain saw at an auction
the federal open market committee
What will be an ideal response?
If a given production combination is efficient, then it must be:
A. below the production possibilities curve. B. on the production possibilities curve. C. above the production possibilities curve. D. either an attainable or unattainable point.