Refer to the data. The average total cost of five units of output is:

Neither intermediate goods nor used goods are included in GDP. Explain why these expenditures are not included in GDP

What will be an ideal response?

The present value of $1 payable in two years is

a. $1. b. $1/(1 + 2r). c. $1/(1 ? 2r). d. $1/(1 + r)2.