Which of the following items is included in U.S. GDP?
a. the estimated value of production accomplished at home, such as backyard production of fruits and vegetables
b. the value of illegally-produced goods and services
c. the value of cars and trucks produced in foreign countries and sold in the U.S.
d. None of the above is included in U.S. GDP.
d
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A production possibilities frontier shows the combinations of various goods that should be produced.
Answer the following statement true (T) or false (F)
What type of policy does the Federal Reserve use to counteract an expansion that is causing high interest rates?
What will be an ideal response?
In 2014, prescription drugs accounted for approximately ________ of total health care spending.
A. 25% B. 50% C. 10% D. 2.5%
At higher interest rates, the:
A. money supply is higher. B. money supply is indeterminate. C. quantity of money demanded is higher. D. quantity of money demanded is lower.