Multiple Choice
Suppose a miller sells flour to a baker for $100.The baker then produces bread from the flour and sells it to Coles for $600.Coles in turn then sells it to the public for $850.The increase in GDP as a result of these transactions will be:
A) $1550.
B) $850.
C) $600.
D) $100.
E) indeterminate.
Correct Answer:
Verified
Correct Answer:
Verified
Q11: GDP counts only:<br>A) all goods and services
Q31: Nominal GDP is based on:<br>A) the existing
Q40: Gross domestic product (GDP) is a correct
Q64: The expenditure approach to GDP accounting includes:<br>A)
Q77: Which one of the following statements is
Q103: Which one of the following statements is
Q108: Exhibit 11-3 GDP data (billions of dollars)<br>
Q114: Exhibit 11-2 GDP data (billions of dollars)<br>
Q115: If a firm finds that it has
Q117: Which one of the following is an