An activity that would not be included in GDP would be:
A. a sweater you knit for your roommate for her birthday.
B. getting tomatoes from your garden and making salsa with them.
C. paying a company forcleaning your house.
D. None of these would be included in GDP.
C. paying a company forcleaning your house.
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An example of a cost externality occurs when a mining company
A) dumps waste in river upstream from a popular fishing spot. B) produces coal that is not in demand in a recession. C) underpays its employees. D) overwork its employees.
In order to protect key industries, some countries impose taxes on their exports instead of imports, mainly because it is easier to collect taxes from the export industry
a. True b. False Indicate whether the statement is true or false
______ are resources that are fully used up in the production process.
A. Materials B. Capital inputs C. Variable inputs D. Fixed inputs
Money is the most liquid asset available because
a. it is a store of value. b. it is a medium of exchange. c. it is a unit of account. d. it has intrinsic value.