If you buy a five-year-old TV from a friend, the amount you paid for the TV is
A) always added to consumption expenditures but not investment.
B) always added to investment but not consumption.
C) not included in this year's GDP.
D) added to investment if the TV is expected to last more than 5 additional years and added to consumption if the TV is expected to last less than 5 additional years.
E) included in this year's GDP only if the TV set was manufactured in the United States.
C
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An arrangement that allows buyers and sellers to exchange things is called
A) a market. B) a contract. C) money. D) efficient.
An appreciation of the U.S. dollar
A) makes our exports more expensive in terms of foreign currency and imports cheaper in terms of the dollar, increasing net exports. B) makes our exports more expensive in terms of foreign currency and imports cheaper in terms of the dollar, decreasing net exports. C) makes our exports less expensive in terms of foreign currency and imports cheaper in terms of the dollar, increasing net exports. D) makes our exports less expensive in terms of foreign currency and imports cheaper in terms of the dollar, decreasing net exports.