A company produced 12 motorcycles in 2015. The company sold 8 in 2015 and added 4 to its inventories. The market value of the motorcycles in 2015 was $1,000 per unit. What is the value of this company's output that will be included in the 2015 GDP?

(Consider This) Kara was earning $40,000 per year. When her income rose to $60,000 per year, she enjoyed the higher level of consumption for a while, but eventually she was no more happy than when she earned $40,000 (assume prices didn't change over

this time period). Economist Richard Easterlin described this as: A. anchoring. B. the endowment effect. C. irrational economic behavior. D. the hedonic treadmill.

Which of the following is a private transfer payment?

A.  Unemployment benefits received by newly laid-off workers B.  The sale of used clothing at a thrift store C.  The Social Security benefits paid to a retired worker D.  A check for $250 sent by a parent to a daughter at college