Estimates of the values of which of the following non-market goods or services are included in GDP?
a. the value of unpaid housework
b. the value of services provided by major household appliances purchased in a previous period
c. the estimated rental value of owner-occupied homes
d. All of the above are included in GDP.
c
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The more firms that are attracted to an industry, the greater will be the quantity of product supplied at any given price.
Answer the following statement true (T) or false (F)
You would like to purchase two products. Product A gives you 8 utils, and Product B gives you 5 utils. Both products cost the same amount, and you can purchase only one of them. If you make the rational choice, what will be the net gain of utils from your purchase?
a. 3 b. 5 c. 8 d. 13
The causal view of an industry is that:
A. market performance causes firms to have a certain structure. B. behavior causes firms to have a certain structure. C. market performance causes firms to behave in a certain way. D. market structure causes firms to behave in a certain way.
Financial Investment:
What will be an ideal response?