The purchase of a new machine to replace the one that is worn out is:
a. not included in GDP.
b. included in gross investment.
c. considered a personal consumption expenditure.
d. not included in GNP.
e. an increase in inventories.
b
Economics
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As a result of a kinked demand curve, the price:
a. fluctuates. b. falls below the kink. c. settles at the kink. d. rises above the kink.
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Double counting occurs because most products that people purchase are manufactured by the same company
a. True b. False Indicate whether the statement is true or false
Economics