Intermediate goods are not counted as part of gross domestic product
Indicate whether the statement is true or false
TRUE
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Which of the following statements is true?
A) If both demand and supply increase there must be an increase in equilibrium price; equilibrium quantity may either increase or decrease. B) An increase in demand causes a change in equilibrium price; the change in price does not cause a further change in demand or supply. C) If demand decreases and supply increases one cannot determine if equilibrium price will increase or decrease without knowing which change is greater. D) A decrease in supply causes equilibrium price to rise; the increase in price then results in a decrease in demand.
Sally would only agree to a second date with Andy if she sees him leave a generous tip for the waiter on their first dinner date. This is an example of a
a. Screening mechanism b. Signaling mechanism c. Way to waste money d. None of the above
Americans needing foreign currencies get those currencies from a bank. The ultimate source of these currencies is
a. U.S. investments abroad. b. U.S. sales to foreign countries. c. U.S. purchases of foreign goods, services, and assets. d. the International Monetary Fund.
You find that your paycheck for the year is higher this year than last. Does that mean that your real income has increased? Explain carefully