The real rate of interest equals 5% and the expected rate of inflation equals 2%. The nominal rate of interest equals

Which part of this definition for GDP is incorrect? GDP measures the:

a. Market value of, b. All final and intermediate goods and services, c. Produced, d. By domestically owned or foreign-owned resources, e. Over a given period of time.

Suppose you sell a kayak for $600, but you were willing to sell it for $450 . The buyer was willing to pay $650 . The total surplus is $200

a. True b. False Indicate whether the statement is true or false