Intermediate goods, like milk sold by a farmer to a supermarket, are
a. included in GDP.
b. included in GDP at market value.
c. included if it is imported.
d. are not included in GDP.
d
Economics
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What makes a model compelling?
a. its predictions b. its mathematical structure c. its assumptions d. its simplicity
Economics
Complete the sentence. An entrepreneur advances a project only if the expected marginal benefit exceeds the expected marginal cost,
A) and so does a government bureaucrat. B) but a government bureaucrat advances a project only if the marginal cost exceeds the marginal benefit. C) but a government bureaucrat is in no position to determine the cost of his own action. D) but a government bureaucrat has no concern about the benefit of his own action.
Economics