The adverse supply shocks experienced during the 1970s strengthened the Philips Curve relationship between inflation and unemployment

Which of the following is NOT included in measured U.S. GDP?

A) the value of the pizzas produced at Pizza Hut in Kansas City B) the value of leisure time C) the value of the goods produced at a French owned plant in Atlanta, Georgia D) the value of the services produced by a lawyer in Tampa, Florida E) the value of a plane produced by Boeing in Washington and sold to Air France

Domestic producers of a good become worse off, and domestic consumers of a good become better off, when a country begins allowing international trade in that good and

a. the country becomes an importer of the good as a result. b. the world price exceeds the domestic price of the good that prevailed before international trade was allowed. c. the country in question has a comparative advantage, relative to other countries, in producing the good. d. total surplus does not change as a result.