Employment in manufacturing fell by almost twenty percent between 1980 and 1999

Gross domestic product calculations count only final goods and services because

A) counting all goods and services would lead to double-counting of many activities. B) these are the only goods and services that are purchased in an economy. C) one cannot calculate the quantities of intermediate goods produced. D) it is difficult to measure the prices of intermediate goods produced.

A sudden increase in the market demand in a competitive industry leads to

a. Losses in the short-run and average profits in the long-run b. Above average profits in the short-run and average profits in the long-run c. New firms being attracted to the industry d. Demand creating supply