Except for World War II, the U.S. deficits from 2009 to 2012 were the largest deficits in the nation's history relative to GDP, even larger than during the Great Depression

Refer to the above table. At a price of $15 per unit, which of the following would exist?

A shortage of 1,600 units A surplus of 600 units A shortage of 1,000 units A surplus of 1,000 units

Which of the following statements is FALSE?

A. Private transfer payments, such as an inheritance, are included in the Gross Domestic Product (GDP). B. If statisticians counted intermediate goods, the estimate of Gross Domestic Product (GDP) would be too high. C. Transfers of used goods are not included in Gross Domestic Product (GDP). D. Gross Domestic Product (GDP) measures the market value of final goods and services produced during a particular time period.