Gross Domestic Product (GDP) is defined as the market value of:
A) all goods and services sold during the year by domestic and foreign producers.
B) all final consumer goods produced during the year by domestic and foreign suppliers.
C) all intermediate goods produced during the year by domestic and foreign suppliers.
D) all final goods and services produced within the boundaries of an economy during the year by domestic and foreign-supplied resources.
D
You might also like to view...
What is the domestic price of sugar in a closed economy? 
A. $3,000/ton B. $1,000/ton C. $2,000/ton D. $500/ ton
In most cases, expenditure-switching policies must be accompanied by expenditure-reducing policies because
A) expenditure-switching policies are completely ineffective without expenditure-reducing policies. B) inflation ensues as home country domestic expenditures switch away from foreign goods to domestic goods unless overall expenditures are reduced. C) inflation abroad may increase the demand for domestic goods, causing inflation to rise. D) the depreciation in the exchange rate may decrease the domestic price of foreign goods, causing an increase in the current account deficit. E) None of the above.
Empirical evidence suggests that usury laws
A) help poor consumers by lowering the interest rate they pay. B) hurt poor consumers by limiting their ability to borrow. C) keep interest rates low. D) limit the amount borrowed by wealthier consumers.
Current concern about Social Security is that
A) the fund is growing too rapidly and would trigger inflation. B) the fund might be depleted before long and might not be there for workers who retire later. C) the government is planning to phase out the program. D) none of the above