Which of the following would the calculation of GDP include?
(A) The price of the steel used to build a new hotel.
(B) The income of a high school English teacher.
(C) The sale of a 25-year-old house.
(D) The income of a person who pays rent by babysitting for the homeowner's children.
Answer: (B) The income of a high school English teacher.
Economics
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Government printing of money to finance government spending is called
A) irresponsible. B) an open-market purchase. C) sterilization. D) seigniorage.
Economics
In the Solow model, which of the following is an endogenous variable?
A) output per worker B) government spending C) the saving rate D) the depreciation rate
Economics