The sale of __________ goods is omitted from current GDP because __________
A) intermediate goods; these goods do not constitute production
B) used goods; these goods were counted in an earlier year
C) illegal; these goods do not constitute economic value
D) b and c
E) a, b, and c
B
Economics
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Rice consumption per capita in China is falling while income per capita is rising, other things being equal. This means that
A. rice demand is price inelastic. B. rice has many substitutes. C. rice is an inferior good. D. None of the above.
Economics
A discouraged worker is one who: a. is underqualified for his current job
b. dislikes his current job but is afraid to quit. c. drops out of the labor force because he cannot find a job. d. quits his job because the possibility of advancement was very low. e. is overqualified for his current job.
Economics