Which of the following activities will not be included in the GDP of an economy?
a. Sam buying a toy car imported from China from a toy shop in Boston
b. Jane paying a certain amount to Moe to mow her lawn
c. Bob buying a pound of cherries to garnish the cakes made in his bakery shop
d. Corey paying his landlord rent for his new apartment
c
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All of the following can raise wages of union members EXCEPT
A) increasing the demand for non-union made goods. B) increasing the demand for union-made goods. C) limiting union membership over time. D) increasing the productivity of union workers.
Some online penny auctions charge a fee, such as $1, for every bid placed. Why should these costs of $1 per bid be considered sunk costs? Would it be smart for someone who has "already invested $5 in bidding costs" to keep bidding to "protect his or her
sunk investments"? Why or why not? What will be an ideal response?