Which of the following is a shortcoming of GDP?
a. GDP includes an estimate of illegal transactions.
b. GDP excludes changes in inventories.
c. GDP excludes business investment spending.
d. GDP excludes nonmarket transactions.
d
You might also like to view...
Which of the following can be thought of as a barrier to entry?
A) scale economies. B) patents. C) strategic actions by incumbent firms. D) all of the above
Jessica owns a company that makes pre-packaged sandwiches for convenience stores. The market price for a sandwich is $5 and Jessica is a price-taker. Her daily variable cost for making sandwiches is C(Q) = 2.5Q + (Q2/40) and her marginal cost is MC = 2.5 + (Q/20). What is the average cost of a sandwich at the quantity of sandwiches Jessica should be selling each day?
A. $1.25 B. $2.50 C. $3.75 D. $6.25
The antitrust case that ended the use of the "rule of reason" by the Supreme Court was the ________ case.
A. American Tobacco B. ALCOA C. U.S. Steel D. IBM
Purchasing power parity exists when domestic currency
A. buys as many goods abroad as at home. B. buys more goods at home than abroad. C. is not convertible to a foreign currency. D. maintains a fixed exchange rate with a foreign currency.