The diagram that shows the income received and payments made by each sector of the economy is the

Determine whether each of the following transactions will be counted in the 2005 GDP of the United States. If the transaction is counted, identify which expenditure component (personal consumption, gross investment, government consumption and gross investment, or net exports) will be affected

a. Norm, a frequent visitor to a local bar, purchases a Budweiser beer. (Budweiser beer is domestically produced.) b. The owner of the local bar purchases a new domestically made cooler unit in which to store his beer. c. Carla, a U.S. foreign exchange student, works her way through college in Germany as a waitress in a bar. d. On her night off, Carla purchases a Budweiser beer for her friend in the German bar.

A measure of overall prices at a particular point in time is called:

A. inflation. B. a relative price. C. the price level. D. a real price.