Joe and Jim purchase vegetables at a grocery store, but Jim also grows vegetables in his back yard. Regarding these two practices, which of the following statements is correct?
a. Only Joe's grocery store purchases are included in GDP.
b. Only Joe's and Jim's grocery store purchases are included in GDP.
c. Joe's and Jim's grocery store purchases are included in GDP. The vegetables from Jim's backyard garden are included at their market value.
d. Joe's and Jim's grocery store purchases are included in GDP. The vegetables from Jim's backyard garden are included at their market value, if Jim provides this information.
b
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You are considering buying a store. In order to better access your return on the investment, your expectations of the return should be based on
a. Days where sales are high, costs are low b. Days where sales are low and costs are high c. Days where both sales and costs are low d. A weighted average of all the above scenarios
If the reserve ratio is 5 percent, then the money multiplier is approximated to be:
A. 20. B. 5. C. 10. D. 2
The burning of fossil fuels may cause global warming. Considering both the science and the reactions of crops, human health, and other factors across differing climates, economists generally agree that
a. to protect the interests of future generations, the buildup of carbon dioxide must soon be stopped. b. any climate change, if it actually occurs, will be extremely costly. c. there will be both costs and benefits if the climate warms. d. all people will be worse off if the climate warms.
Between 2006 and 2008, the average price of homes decreased by what percent?
a. 2% b. 12% c. 22% d. 32%