E&S Cooling Co. installs air conditioning systems in new houses for homebuilders and replacement systems for homeowners. Sales of which systems are included in this year’s GDP?

The resource allocation method used for the online auctions on eBay is

A) market price. B) lottery. C) contest. D) first-come, first-served. E) sharing equally.

As presented in the textbook, gross domestic product is the sum of annual

A) business profits (both incorporated and unincorporated) plus all tax receipts of federal, state, and local governments. B) consumption, saving, and investment. C) expenditures for new final goods by consumers, investors, government. D) total sales of all business firms. E) wages and salaries paid or received.