Home Depot sells new and used doors to contractors who build new homes. Home Depot also sells new and used doors to homeowners. Which of the following would be counted in GDP?
A) the sale of a used door to a homeowner
B) the sale of a new door to homeowner
C) the sale of a used door to TapKon construction for installation into a new home
D) the sale of a new door to TapKon construction for installation into a new home
Answer: B
You might also like to view...
If it is not profitable for more than one firm to be in an industry, we have an example of
A) monopoly due to ownership of key resources. B) monopoly due to governmental entry restrictions. C) monopoly due to economies of scale. D) pure competition.
The absolute poverty line looks at ________, and the relative poverty line captures ________
A. the percentage of the population that falls within the lowest quartile of income earners; what people can afford compared to those around them. B. the percentage of the population that falls within the lowest quartile of income earners; the percentage of the population that earns 40 percent less than the median income. C. who cannot afford the basic necessities; what people can afford compared to those around them. D. what people can afford compared to those around them; who cannot afford the basic necessities.
Engineers for the Off Road Skateboard Company determine that a 12% increase in all inputs will cause a smaller percentage increase in output. Assuming that input prices remain constant, you correctly deduce that such a change in inputs will cause ________ as output increases.
A. average fixed costs to increase B. average costs to decrease C. average costs to increase D. total costs to decrease
In the early 1930s
A) countries that abandoned the gold standard suffered severe inflation. B) countries that tried to defend the gold standard suffered more depression than countries that abandoned the gold standard. C) the gold standard was abandoned by every major industrial country except England. D) the United States was the first major industrial country to abandon the gold standard.