Multiple Choice
Which of the following would not be included in the calculation of GDP?
A) Jim purchases a new automobile.
B) Joe pays a plumber $100 to fix a broken pipe.
C) Sandy,who is on welfare,receives $100 in food stamps.
D) Kurt purchases an airline ticket for $500 just before a big reduction in fares.
E) Laurie pays $15 for a haircut.
Correct Answer:
Verified
Correct Answer:
Verified
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
Q31: Rhonda sells a house she has owned
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
Q37: GDP understates total economic activity because it