Which of the following market transactions of final goods and services are excluded from the computation of U.S. GDP?
a. Purchases of products such as wine, beer, hard liquor, and cigarettes.
b. Secondhand transactions, such as when a used car is sold
c. New purchase that a resident of one state makes in a different state.
d. Purchases of necessities such as groceries and rent.
b
Economics
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The natural rate of unemployment corresponds to what is sometimes called the full employment unemployment rate
a. True b. False Indicate whether the statement is true or false
Economics
Under monopolistic competition, the number of firms increases as fixed entry costs fall and as demand for the type of good produced in the market increases.
Answer the following statement true (T) or false (F)
Economics