Which of the following expenditures are not included in the consumption component of GDP?
What will be an ideal response?
Purchase of a new home.
Economics
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Minimum wage legislation
a. has little effect on university professors. b. raises incomes of unskilled laborers who have jobs. c. prevents some willing workers from getting jobs. d. All of the above are true.
Economics
Whenever indifference curves have kinks, marginal willingness to pay curves have horizontal "flat spots".
Answer the following statement true (T) or false (F)
Economics