Even though households do not actually purchase certain items, the government estimates and adds to the consumption component what the household would pay for these items in the marketplace. An example of this type of item is
a. a car that an individual builds from parts of old cars
b. food that a farm family grows for themselves
c. a pond that a household member digs by hand
d. police and fire protection
e. a barn that a household builds on their own property
B
Economics
You might also like to view...
The Erie Canal, the most important canal (in terms of the number and dollar value of shipments), was in
a. Georgia. b. New York. c. Pennsylvania. d. Maryland.
Economics
An increase in the supply of the product implies:
a. producers will now charge a higher price for a given quantity of output. b. the supply curve will shift to the left. c. some producers are dropping out of this market. d. producers will now charge a lower price for a given quantity of output. e. the price of this product has increased.
Economics