Which of the following is NOT directly included in Canadian GDP?
A) bus tickets sold to tourists for a tour bus ride in Montreal
B) the purchase of tickets to a Kanye West concert in Montreal
C) the sale of tickets to the Vancouver Olympics to U.S. citizens
D) gasoline purchased by a tour bus operator in Quebec
E) All of the items would be included in Canadian GDP.
D
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Which of the following would increase the consumption component of U.S. GDP?
A. A restaurant in Denver purchases a bottle of California wine to include on its wine list. B. The U.S. government buys a bottle of California wine to serve at a state dinner in the White House. C. A person in Paris purchases a bottle of California wine. D. You purchase a bottle of California wine.
When there is a cost or benefit that affects someone other than the seller and buyer, then there is
A) a tax. B) a subsidy. C) a quantity regulation. D) a price regulation. E) an externality.
Economic freedom is present, at least in part, when
A) there are no property rights to limit people's freedom. B) there is no private property. C) people are able to make personal choices. D) there is no government. E) money is free.
What does the labor theory of value imply about the wages workers are paid in a capitalistic society? Explain
What will be an ideal response?