Expenditures that are directly included in GDP accounts include
a. the value of housework done by householders
b. the selling of illegal drugs
c. playing tennis with friends on a Sunday afternoon
d. casual labor in sweatshops that is unreported
e. going to a Dodgers-Expos game on your day off
E
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If there is a greater degree of economic integration between markets in the home country and the base country:
A) the home country will benefit to a greater degree by fixing its exchange rate with the base country. B) efficiency will be reduced with fixed exchange rates. C) flexible exchange rates will result in GDP stability. D) the volume of transactions will be too low to justify an elaborate exchange rate policy.
Empirical evidence indicates that security returns have
A) greater probability of exceeding expected value yields. B) greater probability of yielding below expected value returns. C) a symmetrical probability distribution. D) a probability distribution that cannot be measured.