Aneta has owned an Italian sports car for several years and now she wants to sell it. She paid $8,500 for it in 1993 and she has just sold it for $39,000 in 2015. How is this sale included in the GDP for 2015?
A. $8,500 is included in 2015 GDP.
B. $39,000 is included in 2015 GDP.
C. The increase in value of $10,500 is included in 2015 GDP.
D. It is not included in 2015 GDP.
Answer: D
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In the early 2000s, policy makers were able to:
A. run contractionary policy without causing a rise in unemployment. B. run contractionary policy without causing deflation. C. impose tariffs on foreign goods without causing retaliation by foreign countries. D. run expansionary policy without causing inflation.
Strategic trade policy requires ALL of the following EXCEPT
A) subsidies set before output levels. B) non-retaliation of the trading partner. C) credible actions on the part of the subsidizing government. D) incomplete information on the part of the government.
Bundling
A) is when firms sell multiple separate goods together for a single price. B) is where a firm wraps its fragile goods in special packaging and charges a higher price than if the goods are put into regular packaging. C) increases transaction costs for consumers. D) is illegal in most U.S. states.