Iron ore would be considered a

Which of the following would not be in this quarter's real GDP?

A. a new house that sold today B. a used truck that was sold to a business C. a bookstore adding to books in its warehouse D. a book manufactured in the U.S. and then sold in Mexico

When an economist uses the term "cost" referring to a firm, the economist refers to the

A) price of the good to the consumer. B) explicit cost of producing a good or service but not the implicit cost of producing a good or service. C) implicit cost of producing a good or service but not the explicit cost of producing a good or service. D) opportunity cost of producing a good or service, which includes both implicit and explicit cost. E) cost that can be actually verified and measured.