Which of the following market transactions of final goods and services are excluded from the computation of U.S. GDP??
A. ?Purchases of products such as wine, beer, hard liquor, and cigarettes.
B. ?Secondhand transactions, such as when a used car is sold.
C. ?New purchase that a resident of one state makes in a different state.
D. ?Purchases of necessities such as groceries and rent.
Answer: B
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Refer to the figure above. If a price control is imposed at $8, what is the new producer surplus in the market?
A) $20 B) $40 C) $60 D) $80
A prolonged period of drought will shift the long-run aggregate supply curve to the right
a. True b. False Indicate whether the statement is true or false
Which of the following is not generally considered to be a major cure for insolvency?
a. Equity infusions. b. Expansionary monetary policies. c. Financial restructuring. d. New management strategies. e. Asset liquidations.
The additional utility gained from consuming an additional unit of a good is called:
A. marginal utility. B. total utility. C. costly utility. D. a util.