Multiple Choice
Which of the following is NOT included in real GDP?
A) production of services, such as the services of doctors
B) production of goods that last more than one year, such as television sets
C) production of goods that do not last more than one year, such as gasoline
D) production in the home
Correct Answer:
Verified
Correct Answer:
Verified
Q247: By itself, an increase in exports<br>A) increases
Q248: Intermediate goods are excluded from GDP because<br>A)
Q249: In the national income accounts, the purchase
Q250: Recessions are commonly defined to occur<br>A) whenever
Q251: A recession is commonly defined as a
Q253: Looking at the components of the income
Q254: An expansion ends when the economy<br>A) hits
Q255: You believe that the total amount of
Q256: Of the following, which is CORRECT?<br>A) Nominal
Q257: Gross investment equals net investment plus<br>A) capital.<br>B)