Which of the following is not true about gross domestic product (GDP)?
a. It includes only final goods and services
b. It reflects production in a particular year.
c. Intermediate goods and services are excluded to prevent double counting.
d. It excludes purchases of financial assets.
e. It includes transfer payments.
e
Economics
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Keynes believed that saving is more responsive to changes in income than to changes in interest rates
Indicate whether the statement is true or false
Economics
An individual would suffer higher losses from an unexpectedly higher inflation rate if
a. she held much currency and owned few bonds. b. she held much currency and owned many bonds. c. she held little currency and owned few bonds. d. she held little currency and owned many bonds.
Economics