A consumption good that would be counted in GDP would be a:
A. new bicycle.
B. vintagebottle of wine purchased at an auction.
C. washing machine purchased at a garage sale.
D. A newly issued stock.
A. new bicycle.
Economics
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The production function 
can have increasing returns to scale or decreasing returns to scale -- but it cannot have initially increasing and eventually decreasing returns to scale.
Answer the following statement true (T) or false (F)
Economics
The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
Economics