An increase in income causes the demand of normal goods to _________ and the price of normal goods to

Gdp:

a. is the dollar value of all the final goods and services produced within the borders of a nation. b. includes intermediate and final goods and services. c. minus an allowance for depreciation of fixed capital equals GNP. d. is a less-than-perfect measure of social well-being because it does not include exports and imports. e. all of these.

Gross domestic product (GDP) is defined as:

a. the market value of all final goods and services produced within the borders of a nation. b. incomes received by all of a nation's households. c. the quantity of each good and service produced by U.S. residents. d. none of these.