The purchase of rice produced this period is included in GDP if the rice is
a. used in a meal a restaurant sells during the same period they buy the rice.
b. purchased by a family who uses it to make tuna casserole for its supper.
c. purchased by a frozen food company to increase its inventory.
d. B and C are correct.
d
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A strong economy not only creates more job opportunities but also reduces discrimination barriers
Indicate whether the statement is true or false
When neo-Keynesians looked at 1970s–1980s inflation and unemployment data, they found
a. not a single Phillips curve, but a set of Phillips curves b. a relatively well-behaved downward-sloping Phillips curve c. a vertical Phillips curve, which helped to explain stagflation d. a Phillips curve that was very similar to the Phillips curve of the 1960s e. a Phillips curve that behaved like a Laffer curve