Which of the following would be directly counted in U.S. GDP for 2015?
A) a 2015 Mini Cooper, built in Oxford, England, and sold to a computer programmer in San Jose, California
B) a 1957 Chevy Bel Air convertible sold by its original owner to a car collector in Nashville on March 1, 2015
C) a 2015 Harley-Davidson Softail Deluxe, built in Pennsylvania, and sold to a kindergarten teacher in Moose Jaw, Saskatchewan, Canada
D) a Tesla car battery, built in 2014 in California, to be installed in a new 2015 Tesla Model S
C
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The quantity theory of money and prices rests on the assumption that
A) the minimum wage is constant. B) the velocity of money is constant. C) the nominal interest rate is constant. D) the foreign exchange rate is constant.
An economic model is a complex version of reality used to analyze real-world economic situations
Indicate whether the statement is true or false