A real estate salesperson sells a house in 1999 that was built in 1990. How does this transaction get counted in the GDP statistics?
What will be an ideal response?
The real estate salesperson's commission but not the price of the house is included in 1999's GDP.
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A leading apparel brand in the U.S. opens a workshop in Bangladesh. This is an example of ________
A) import by the U.S. B) a foreign portfolio investment C) a foreign direct investment D) export to Bangladesh
An increase in cyclical unemployment will result in
A) an increase in structural unemployment. B) an increase in the unemployment rate. C) an increase in the natural rate of unemployment. D) a decrease in frictional unemployment.
A depositor cannot directly write checks against: a. demand deposits
b. transaction deposits. c. nontransaction deposits. d. money market mutual fund accounts.
If a worker responds to an increase in the opportunity cost of leisure by taking less leisure, then his labor supply curve is
a. horizontal. b. vertical. c. backward sloping. d. upward sloping.