Which of the following is not included in GDP?
A) Unpaid maintenance of your house by your spouse.
B) Services such as those provided by lawyers and dentists.
C) The estimated rental (imputed) value of owner-occupied housing.
D) Production by foreign citizens in the U.S.
A
Economics
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What is the relationship between price, marginal revenue, and marginal cost when a single-price monopoly is maximizing profit?
What will be an ideal response?
Economics
How would the market for coffee be affected if the government charged an excise tax of $1.00 on each unit of coffee sold?
A) There would be a shortage of coffee. B) The demand for coffee would increase. C) The demand for coffee would decrease. D) The supply curve would shift up vertically by $1.00.
Economics