To compute GDP:
A) simply sum the number of final goods and services.
B) sum the cost of producing final goods and services.
C) use a weighted average by a survey regarding how much people value different goods and services.
D) sum the market values of final goods and services.
D
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Which of the following is not a reason people choose to depend on others for goods and services?
a. to improve their lives b. to allow them to enjoy a greater variety of goods and services c. to consume more of each good without working any more hours d. to allow people to produce outside their production possibilities frontiers
The Bureau of Labor Statistics counts discouraged workers as
a. employed. Including them as employed makes the unemployment rate lower than otherwise. b. unemployed. Including them as unemployed makes the unemployment rate higher than otherwise. c. out of the labor force. If they were counted as unemployed the unemployment rate would be higher. d. None of the above is correct.