Which of the following is NOT considered a determinant of income differences?

Estimates of the values of which of the following non-market goods or services are included in GDP?

a. the value of unpaid housework b. the value of services provided by major household appliances purchased in a previous period c. the estimated rental value of owner-occupied homes d. All of the above are included in GDP.

In June of 2010, the government had a debt of about $8.6 trillion. Over the next year real GDP grew by about 1.6% and inflation was about 2%. What is the largest deficit the government could have run over this time without raising the debt-to-GDP ratio?

a. about $68.8 billion b. about $137.6 billion c. about $275.2 billion d. about $309.6 billion