An example of a good or service that would not count in the U.S. GDP would be:
A. a t-shirt made by The Gap in Cambodia.
B. a t-shirt made by Organi-tee in Oregon.
C. a TV made by Toshiba in Georgia.
D. a bottle of water made by Poland Springs in Maine.
A. a t-shirt made by The Gap in Cambodia.
You might also like to view...
You are at a sports memorabilia convention and you are the last of 100 people chosen to have your picture taken with either Joe Montana or Nolan Ryan
Your payoff depends on how quickly you can have your picture taken, as you have many other things you want to see at the convention. You have no preference with whom you have your picture taken, and since you were the last chosen you will be the last person in line to get your picture taken with the sports legend you select. Identify all the Nash equilibria in this game and explain your reasoning.
When a tax is imposed on an item, it can generally be said that the incidence of the tax is
A. entirely on the buyer. B. entirely on the seller. C. on both the buyer and seller. D. not determined in this manner.
Investment spending will increase when
A) the interest rate rises. B) the corporate income tax increases. C) firms become more pessimistic about earning future profits. D) business cash flow increases.
Which of the following is always a characteristic of the oligopoly market structure?
a. Many sellers, each small in size relative to the overall market. b. Few sellers. c. All sellers produce identical products. d. Easy, low-cost entry and exit.