Gross domestic product includes
A. your purchase of 100 shares of Alibaba.
B. your gift of $100 to your brother.
C. your purchase of a gently used 1990 Porsche Carrera.
D. your weekly paycheck as a server at Denny’s.
Answer: D
Economics
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A) higher output B) higher saving and/or lower net exports C) higher investment D) all of the above E) none of the above
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An externality refers to the idea that
A) explicit costs differ from implicit costs. B) decision-makers do not internalize all the costs. C) we cannot do anything that does not affect other people. D) private and internal costs differ.
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