Which of the following is counted in GDP?
A) the value of do-it-yourself work
B) the value of leisure
C) the value of goods and services produced in the underground economy
D) the cost of a speed boat purchased by drug smugglers
D
Economics
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When a firm is considered to be a "price taker" that means that the firm
A) can charge any price that it wants to charge, that is, "take" any price it wants. B) pays a fixed price for all of its inputs. C) will accept ("take") the lowest price that its customers offer. D) cannot influence the market price of the good that it sells.
Economics
Static gains from trade come about because trade causes consumers and producers to face a different set of prices
Indicate whether the statement is true or false
Economics