Which one of the following transactions in a particular year is included in gross domestic product for that year?
A) Social Security payments to retirees
B) The government pays a computer services company that assisted in the delivery of Social Security payments to retirees.
C) A car is produced in the previous year and remains in inventory for the entire year under consideration.
D) A stay-at-home parent performs housework that the family would otherwise have paid a maid $20,000 a year to perform.
B
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The production possibilities frontier rotates outward along one of the axes when:
a. there is a technological change that enhances the production of both goods. b. there is a decrease in the availability of resources used to produce both goods. c. there is a decrease in the quality of resources used to produce both goods. d. there is a technological change that enhances the production of only one of the goods.
Who bears the costs of a program to control rents at a maximum level?
A) landlords or owners of housing units B) consumers who face difficulty moving to a more suitable apartment C) homeless who cannot find rental units D) all of these