Multiple Choice
The calculation of GDP excludes the value of
A) expenditure on durable goods.
B) businesses' purchases of new machine tools.
C) a family member painting the family home.
D) government expenditure on office supplies.
E) households' purchases of shampoo.
Correct Answer:
Verified
Correct Answer:
Verified
Q15: Nominal GDP increases<br>A) only if the productivity
Q16: You hire some of your friends to
Q17: Because of the circular flows of expenditure
Q18: The relationship between real GDP and potential
Q19: Gross domestic product is defined as the
Q21: According to the income approach to measuring
Q22: When measuring GDP,<br>A) only the federal government's
Q23: If the income and expenditure approaches do
Q24: In Australia, between 1959/60 and 2017/18, there
Q25: Everything else the same, if government expenditure