In measuring GDP, which of the following is included?
A) the value of durable consumption goods but not the value of nondurable consumption goods.
B) the value of preparing meals at home
C) the value of stocks and bonds bought and sold
D) the value of increases in business inventories
E) the value of used goods when they are sold
D
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What type of profit can a firm in monopolistic competition make in the long run? Explain your answer
What will be an ideal response?
If the population growth rate is 2 percent, real GDP per person will double in 7 years if real GDP grows by ______ percent per year
A. 7 B. 10 C. 12 D. 14
Which of the following is not a source of technological advancement for a producer?
A) more efficient physical capital B) outsourcing some aspect of production C) higher skill level of managers D) better trained workers
When the money supply increases by $5 billion, tax revenues are $10 billion, and government borrowing is $30 billion, government spending must equal:
a. $10 billion. b. $15 billion. c. $20 billion. d. $35 billion. e. $45 billion.