Activities that are directly included in GDP accounts include:
A. the value of housework done by householders.
B. the selling of illegal drugs.
C. unreported labor in sweatshops.
D. buying a ticket to a Yankees-Red Sox game on your day off.
Answer: D
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We use interest rates to measure the opportunity cost of holding money
Indicate whether the statement is true or false
Along a linear demand curve, as the price rises, demand becomes more
a. steep b. elastic c. inelastic d. unit elastic e. variable
Which of the following will be required for a country to move up the income ladder and achieve high-income status?
a. rapid growth of the money supply. b. restrictions limiting the import of goods from other nations, particularly low-wage countries. c. tax incentives that encourage consumption rather than investment d. sustained economic growth
Domestic law and order, the infrastructure, and the climate of international trade are all aspects of a country's:
A. natural resources endowment. B. human resources investment. C. capital investment. D. political environment.