A futures contract is essentially the same thing as a forward contract.

Goods that are produced this year, stored in inventories, and then sold to consumers next year

A) count in this year's GDP. B) count in next year's GDP. C) count in both this year's and next year's GDP. D) are not counted as a part of GDP.

The amount of a tax paid by the sellers will be larger the more ________ the demand and the more ________ the supply

A) elastic; inelastic B) inelastic; elastic C) inelastic; inelastic D) elastic; elastic