Consumer goods that are produced, go into inventory, and are not sold during the current period are
a. counted as intermediate goods and so are not included in current period GDP.
b. counted in current period GDP only if the firm that produced them sells them to another firm.
c. included in current period GDP as inventory investment.
d. included in current period GDP as consumption.
c
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Which of the following is NOT a function of money? i. unit of account ii. store of value iii. unit of debt
A) i only B) ii only C) iii only D) both ii and iii E) both i and ii
In 1974, one could buy a theater ticket for $1.25 . Today the same theater ticket costs $6.50 . Which pair of CPIs would imply that the cost in today's dollars was the same for both tickets?
a. 60 in 1964 and 390 today b. 75 in 1964 and 390 today c. 80 in 1964 and 404 today d. 95 in 1964 and 475 today