Determine whether each of the following outputs is considered an intermediate good, a final good, or neither for purposes of calculating GDP in the current year
a. New tires put on a new Corvette at Big O Tire store
b. The net sales price of a home built in 1990 when it is resold in 1997
c. The commission earned by a stock broker on the sale of stock
d. The net price that is paid for 1000 shares of stock in Dell
a. Final
b. Neither
c. Final
d. Neither
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When a recession is triggered by a(n) ________ in autonomous expenditure, and as the economy turns the corner into ________, real GDP exceeds aggregate planned expenditure and unplanned inventories ________
A) increase; recession; increase B) decrease; expansion; decrease C) decrease; expansion; increase D) decrease; recession; decrease E) decrease; recession; increase
What does the idea of a trade-off between inflation and unemployment mean?
(a) That lower inflation could be established but only at the cost of higher unemployment (b) That lower unemployment could be achieved but only at the cost of more government spending (c) That lower inflation could be established but only at the cost of lower unemployment (d) That lower unemployment could be achieved but only at the cost of lower inflation rates
A survey done by the Bank of International Settlements found the _____________ market to be the largest market in the world economy.
a. online b. capital c. foreign exchange d. stock
Which of the following federal agencies is NOT engaged in economic regulation?
A. Federal Aviation Administration B. Food and Drug Administration C. the Federal Reserve D. Federal Deposit Insurance Corporation