GDP is most often discussed using _______ figures, although it is typically calculated _______.
A. annual; quarterly
B. annual; monthly
C. quarterly; monthly
D. quarterly; annually
A. annual; quarterly
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The percentage of retired older workers has increased dramatically since the introduction of Social Security.
A. True B. False C. Uncertain
Refer to Table 8.5. Assume that fruit baskets are sold in a perfectly competitive market. The market price of a fruit basket is $22. To maximize profits, Exotic Fruit should sell __________ fruit basket(s). A) three B) four C) five D) six
Which of the following market transactions of final goods and services are excluded from the computation of U.S. GDP??
A. ?Purchases of products such as wine, beer, hard liquor, and cigarettes. B. ?Secondhand transactions, such as when a used car is sold. C. ?New purchase that a resident of one state makes in a different state. D. ?Purchases of necessities such as groceries and rent.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, an increase in unemployment may be represented by the movement from
A. B to A. B. A to C. C. C to D. D. B to D.