Multiple Choice
Joe has a full-time construction job and also does odd jobs for people on the weekends.You have purchased the materials needed to construct a fence at your house and you pay Joe $500 to build the fence.Does the payment to Joe count toward the value of gross domestic product (GDP) ?
A) Yes,the fence increases the value of your house.
B) Yes,all income earned counts in GDP.
C) No,his is a nonmarket activity.
D) No,this income is not likely to be reported to the government.
E) No,this is a leisure activity.
Correct Answer:
Verified
Correct Answer:
Verified
Q27: Nominal gross domestic product (GDP)increased from $15.44
Q28: Which country has had a recent surge
Q29: Consider the following data, where gross domestic
Q30: A shortcoming of real gross domestic product
Q31: Gross domestic product (GDP)is not a good
Q33: Consider the following data that identifies real
Q34: Explain why per capita gross domestic product
Q35: Explain why real gross domestic product (GDP)is
Q36: Gross domestic product (GDP)is defined as the
Q37: Explain why a country with a lower