Answer: d. All of the above are included in the consumption component of GDP.
Which of the following is included in the consumption component of GDP?
a. household purchases of appliances.
b. household purchases of medical care.
c. household purchases of food.
d. All of the above are included in the consumption component of GDP.
You might also like to view...
A monopolistically competitive firm maximizes profit where
A) price > marginal cost. B) total revenue > marginal cost. C) marginal revenue > average revenue. D) price = marginal revenue.
In the prisoner's dilemma:
A. a dominant strategy exists for only one player. B. a non-cooperative outcome is predicted. C. a cooperative win-win outcome can be predicted. D. All of these statements are true.
A Chinese restaurant buys 10 cups of rice for $1; soy, fish and oyster sauces for $1 each; and assorted vegetables for $20. They create 10 meals with these ingredients and sell each one for $5. How much does this process contribute to GDP?
A. $23 B. $50 C. $73 D. $27
Which of the following is an example of an automatic stabilizer?
What will be an ideal response?