When a firm produces output,
A) The value of the output produced is included in GDP
B) The firm's output contributes to GDP only to the extent that there is value-added.
C) The firm's output will not count as GDP if it is stored as inventory.
D) The firm's output will not count as GDP if it is exported.
B
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Economic activities that signal forthcoming changes in the economy are referred to as:
a. coincidental economic indicators. b. GDP implicit price deflators c. lagging economic indicators. d. perfect economic indicators. e. leading economic indicators.
The effect of a change in the price of tea on the quantity of coffee demanded is measured by the
a. price elasticity of demand b. substitute elasticity of demand c. cross-price elasticity of demand d. income elasticity of demand e. alternative elasticity of demand
Individual states engage in their own industrial policy, which can involve states competing with one another by offering special inducements to attract industry and jobs
Indicate whether the statement is true or false
When an employee at a grocery store scans the price of your items, bags the groceries, and collects your paper, the individual has provided
A) physical capital.
B) entrepreneurship.
C) a service.
D) land.