Which of the following items would NOT be in U.S. GDP this quarter?
A. a dress produced and sold in Dallas, Texas this month
B. a crane that was produced and sold as new two years ago
C. a plane produced by Boeing this month that was sold in Europe to Air France
D. a just-completed new home is sold to a household
Answer: B. a crane that was produced and sold as new two years ago
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If the stock market quote in the newspaper reads 752 in the column headed "Vol 00s", it means that 752 shares of this stock were traded on this particular day
Indicate whether the statement is true or false
To compare the purchasing power of nominal wages in two different years, one must:
A. deflate both quantities by a common price index. B. adjust both quantities by the real interest rate. C. increase both quantities by the same percentage increase in a price index. D. compare the nominal values.