Final goods and services are ________ production and ________ counted in GDP.
A. used up in the process of; are
B. used up in the process of; are not
C. the end products of; are
D. the end products of; are not
Answer: C
Economics
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If the elasticity measure equals 1.0, then the demand is
A) elastic. B) unit elastic. C) inelastic. D) infinitely elastic.
Economics
Economists use the phrase "business cycle" when referring to fluctuations in:
a. real GDP. b. the chain price index. c. the consumer price index. d. the general level of prices.
Economics