Which of the following purchases would be counted as a final good in the GDP calculation?
a. A family's purchase of a used car.
b. A speculator's purchase of 100 shares of Apple Computer stock.
c. A deli's purchase of bread for making its sandwiches.
d. A business's purchase of new office equipment.
d
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The largest single expenditure component of GDP is: a. consumption
b. investment. c. government purchases. d. net exports.
Normative economics ________ and positive economics ________.
A. involves judgments; also involves judgments B. does not involve judgments; involves judgments C. does not involve judgments; also does not involve judgments D. involves judgments; does not involve judgments
Statistics show that the less developed a country is
A. the larger is the share of industrial output in its total output. B. the larger is the GDP. C. the larger is the per capita income. D. the larger is the share of agricultural output in its total output.
A market exchange rate which has been adjusted for inflation is called a
A) nominal exchange rate. B) foreign market price index. C) real exchange rate. D) domestic exchange factor.