Which of the following transactions will be included in the calculation of GDP using the expenditure method?
A) The sale of a used car by a consumer
B) The payment made to a construction worker
C) The purchase of a treasury bond by an investor
D) The purchase of a private jet by the CEO of a company
D
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According to this Application, Janet L. Yellen, the Vice-Chair of the Board of Governors, believes that ________ in worldwide demand and ________ of supply were the primary cause of the worldwide increase in commodity prices
A) decreases; shortages B) increases; surpluses C) increases; shortages D) decreases; surpluses
Because consumers who have insurance provided by their employers usually only pay a deductible for a visit to the doctor's office, they ________ of health care services than they would if they paid a price that better represented the true cost of
providing the service. A) supply a smaller quantity B) demand a smaller quantity C) demand a larger quantity D) supply a larger quantity