Multiple Choice
Rhonda sells a house she has owned for 15 years.To make it more marketable,she buys carpeting and has it professionally installed,and buys wallpaper that her daughter hangs.Which items would be included in this year's GDP?
A) the sale price of the house
B) the sale price of the house,carpeting,and wallpaper and the installation fee for the carpet
C) the sale price of the house,carpeting,and wallpaper,the installation fee for the carpet,and the opportunity cost of Rhonda's daughter's time
D) the sale price of the house,carpeting,and wallpaper,the installation fee for the carpet,and the opportunity cost of Rhonda's time
E) the sale price of the wallpaper and carpeting and the installation fee for the carpet
Correct Answer:
Verified
Correct Answer:
Verified
Q26: Real GDP is measured in<br>A)current-year prices<br>B)base-year prices<br>C)nominal
Q27: Nominal GDP is measured in<br>A)current-year prices<br>B)base-year prices<br>C)real
Q28: To determine the CPI,you would need to
Q29: If exports total $6.5 billion and imports
Q30: Depreciation is subtracted from GDP to get
Q32: Which of the following would not be
Q33: Which of the following transactions is not
Q34: Which of the following would increase GDP?<br>A)More
Q35: The CPI overstates the true inflation rate
Q36: Suppose that storage costs increase,so that firms