Which part of this definition for GDP is incorrect? GDP measures the:
a. Wholesale value of,
b. All final goods and services,
c. Produced for the market,
d. By domestically owned or foreign-owned resources,
e. within a nation's geographic borders.
.A
You might also like to view...
A major characteristic of monopoly is that
A) no barriers to entry exist. B) the product is identical to that produced by other companies. C) a barrier to entry keeps out competitors. D) competition is intense. E) a few firms compete with each other.
Refer to the given data, symbols, and assumptions. Migration of workers will:
Symbols: Q = number of workers demanded; W = wage rate; and VTP = value of the
cumulative total product (output) of the particular number of workers.
Assumptions: (1) The current wage in Zinnia is $20 and the current wage in Marigold is $12; (2) full employment exists in both countries.
A. increase the combined value of total product but reduce the wage in Zinnia.
B. increase the combined value of total product but reduce the wage in Marigold.
C. reduce the combined value of total product but increase the wage in Marigold.
D. reduce the combined value of total product but increase the wage in Zinnia.