Final goods and services are ________ production and ________ counted in GDP.
A. the end products of; are not
B. the end products of; are
C. used up in the process of; are not
D. used up in the process of; are
Answer: B
You might also like to view...
For the purposes of GDP accounting, government purchases include
A) the purchases of new military equipment. B) direct transfer payments by the government to other individuals. C) Social Security payments. D) welfare payments.
When deciding whether to engage in an activity or how much to do, people should follow
A) the principle of microeconomics. B) the marginal principle. C) the principle of macroeconomics. D) the law of supply and demand.
Which of the following economies has the lowest ratio of Social Security benefits to GDP in 2006?
a. United Kingdom b. Netherlands c. Canada d. France e. United States
Which of the following will most likely occur in the short run if long-run equilibrium is disturbed by an unanticipated decrease in aggregate demand?
a. a decrease in output and a higher price level b. an increase in output and a higher price level c. a decrease in output and a lower price level d. an increase in output, while prices remain unchanged