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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One of the most significant barriers to economic growth in the world's poorest nations is
A) political freedom. B) dead capital. C) environmental issues. D) U.S. government interference.
Public schools are often homogenous because of neighborhood attendance boundaries
a. True b. False
If one-time gains from defection are always less than the discounted present value of an infinite time stream of cooperative payoffs at some given discount rate, the decision-makers have escaped
a. the Folk Theorem b. the law of large numbers c. the Prisoner's dilemma d. the paradox of large numbers e. the strategy of recusal
What are the implications of a liquidity trap for the Federal Reserve?
What will be an ideal response?