Which of the following is NOT included in real GDP?
A) production of services, such as the services of hair dressers
B) production of goods that last less than a year, such as production of hot dogs
C) production that takes place in the underground economy
D) production of goods that last more than a year, such as a pair of roller blades
C
Economics
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Taxes in the United States as a percentage of GDP are among the highest in the world
a. True b. False Indicate whether the statement is true or false
Economics
In a perfectly competitive market, the
a. market demand curve is horizontal b. short-run market supply curve is horizontal c. short-run market demand curve slopes upward d. short-run market supply curve slopes downward e. market demand curve slopes downward
Economics