Tom is an organic gardener. When Tom produces vegetables only for consumption by his family,
a. the value of the vegetables he produces is not included in GDP
b. the value of organic vegetables cannot be included in GDP, because organic production does not fit a category of GDP.
c. if Tom registers his garden with the Department of Agriculture, the value of his vegetables will be included in GDP.
d. the value of farm production is not a part of GDP.
a
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In the United States for the last 40 years, the nominal interest rate
A) and the real interest rate both decreased in almost every year. B) and the real interest rate were both constant in almost every year. C) was constant in most years and the real interest rate fluctuated. D) exceeded the real interest rate in virtually all the years. E) exceeded the real interest rate in about one half of the years and the real interest rate was greater than the nominal interest rate in the other half of the years.
Countries that typically run a trade surplus are:
A. China, Germany and the US. B. China, Japan, and the US. C. China, Germany, and Japan. D. Japan, Germany and the US