Which of the following is not an example of a final good or service (from the perspective of the national income accounts)?
A. A new string trimmer purchased by Green Grass Lawn Care Services, which employees will use to maintain customer's yards
B. Seedlings and saplings purchased for resale by Wendy's Garden Center
C. New lawn mowers sold to consumers by Cut-Rite Lawn Equipment & Supplies in their retail store
D. Flowers and pots purchased by homeowner Joe Smith for his garden
Answer: B
You might also like to view...
All of the following are explanations of the post-1973 productivity slowdown except
A) problems in measuring productivity. B) changes in the legal and human environment. C) higher oil prices. D) greater competition from foreign imports.
A recessionary gap is the amount that autonomous aggregate expenditures must rise to cause the equilibrium level of real GDP to shift to the full-employment level of real GDP
a. True b. False Indicate whether the statement is true or false
During the course of a week, McDonald's has enough time to hire or layoff workers, but it does not have enough time to expand its kitchen or add an additional seating area. In this situation, McDonald's:
A. has no fixed costs. B. is in the short run. C. suffers an economic loss. D. earns a large profit.
How does the cross elasticity of demand differ from the price elasticity of demand? How are they related?
What will be an ideal response?