The value of goods produced, but unsold, in the current period is:
A. allocated to GDP in future periods when the goods are sold.
B. counted in GDP as consumption spending.
C. excluded from GDP.
D. counted in GDP as inventory investment.
Answer: D
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Suppose the star pitcher on a university's baseball team, who is now a sophomore, decides to finish college instead of joining a major league team. In doing this, he is giving up a $40,000 salary for each of the next two years. At an interest rate of 10 percent, the total value of this sacrifice is approximately
a. $46,000 b. $77,777 c. $69,420 d. $80,000 e. $88,000
The tendency of the prices of identical baskets of goods across countries to converge: a. Is weaker to the extent the countries compared have substantial tariffs on imported goods. b. Is weaker to the extent the countries compared have limiting quotas on imported goods. c. Is weaker for goods and services not traded internationally
d. All of the above are true.
In a country with a working-age population of 30 million, 18 million are employed, 2 million are unemployed, and 2 million of the employed are working part-time, half of whom wish to work full-time. If 1 million of those unemployed are cyclically unemployed, what is the natural unemployment rate?
A) 5 percent B) 11.1 percent C) 5.6 percent D) 6.7 percent E) none of the above
"Per capita GDP" tells us ________.
the average income (or output) of a country per person the amount of GDP adjusted for inflation the amount of GDP at the natural rate of unemployment the amount of GDP for a specific state