Which of the following is NOT included in measured U.S. GDP?
A) the value of the pizzas produced at Pizza Hut in Kansas City
B) the value of leisure time
C) the value of the goods produced at a French owned plant in Atlanta, Georgia
D) the value of the services produced by a lawyer in Tampa, Florida
E) the value of a plane produced by Boeing in Washington and sold to Air France
B
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The specificfactors model is termed a "shortrun" model because:
a. labor cannot move from one activity to another. b. land resources can move from one activity to another . c. labor can move from one activity to another. d. land and capital cannot move from one activity to another .
The marginal propensity to consume can best be described as:
A) consumption/income B) the impact of a change in income on GDP C) the change in income divided by the change in consumption D) the change in consumption divided by the change in income