Which of the following domestically produced items is not included in GDP?

a. a bottle of shampoo
b. a hairdryer
c. a haircut
d. All of the above are included in GDP.

d

Economics

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Refer to Table 9-11. Prior to trade, what was the opportunity cost to produce 1 clock in Denmark?

A) 1/6 of a hat B) 1/2 of a hat C) 2 hats D) 6 hats

Economics

Refer to the figure above. The quota restricts trade by the same amount as a tariff of

A) $20. B) $30. C) $50. D) Cannot answer without more information.

Economics