Gross domestic product includes
a. all intermediate and final goods and services produced.
b. the current production of final goods and services with a country's borders.
c. exchanges of assets.
d. the current production of final goods and services by a country's citizens.
e. All of the above
B
You might also like to view...
New growth theory economists believe that:
I. Economic growth can continue as long as we keep finding new ideas. II. The marginal product of capital diminishes very rapidly, so we must rely upon technological advances to create economic growth. A) I only B) II only C) both I and II D) neither I nor II
For an imaginary economy, the consumer price index was 80 in 2014, 100 in 2015, and 140 in 2016 . Which of the following statements is correct?
a. If the basket of goods that is used to calculate the CPI cost $40 in 2014, then that basket of goods cost $60 in 2015. b. If the basket of goods that is used to calculate the CPI cost $25 in 2015, then that basket of goods cost $35 in 2016. c. The overall level of prices increased by 60 percent between 2014 and 2016. d. All of the above are correct.