To compute GDP:
A) simply sum the number of final goods and services.
B) sum the cost of producing final goods and services.
C) use a weighted average by a survey regarding how much people value different goods and services.
D) sum the market values of final goods and services.
D
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In the nation of Gonzo, the number of employed is 95 million, the adult population is 125 million, and the number of unemployed is 5 million. Calculate the unemployment rate, the employment rate, and the labor force participation rate in Gonzo
What will be an ideal response?
The above table shows Homer's marginal utility from consuming various quantities of chocolate chip cookies and cake. The price of cookies is $1 per pound, the price of cake is $2 per slice and Homer has $9 to spend on cookies and cake
Homer will consume ________ pounds of cookies and ________ slices of cake. A) 5; 2 B) 2; 5 C) 3; 3 D) None of the above answers is correct.
The true causal effect might not be the same in the population studied and the population of interest because
A) of differences in characteristics of the population B) of geographical differences C) the study is out of date D) all of the above
When the expenditure approach is used to measure GDP, the major components of GDP are
What will be an ideal response?