GDP calculations tend to exclude all of the following EXCEPT:
A. illegal transactions.
B. environmental quality.
C. work that people do for themselves in their own homes.
D. salaries paid to government employees.
Answer: D
You might also like to view...
Figure 19.1 displays changes in the size of private inventories. Based on the figure, in which month is the size of private inventories likely to have been lowest?
A) September 2010 B) September 2011 C) September 2009 D) March 2010
In which case will the transition from short run to long run involve the shortest chronological time?
a. a service that provides temporary secretaries to companies b. an automobile factory c. a farm d. an electric utility
The worst post–World War II recession in the United States occurred in
A. 1964 B. 1973 C. 1981 D. 2007
In a perfectly competitive market, when the price is below the minimum average total cost for all firms:
A. economic profits will be equal to zero. B. the price will eventually rise once enough firms have left the market. C. firms will likely enter the market. D. accounting profits will be positive.