investories are included in GDP because a. they are considered government spending b. they will depricate c. they are value added to final goods d. they were produced and are sold in their final form

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The omission of household production from GDP means that GDP total production and the growth rate of total production. A. overestimates; underestimates B. underestimates; underestimates C. underestimates; overestimates D. overestimates; overestimates E. underestimates; does not bias

​The standard of living in a nation is measured by: ​A. the rate of growth of real gross domestic product per capita. B. ​its employment rate. C. the rate of growth of nominal gross domestic product. D. ​its unemployment rate E. its inflation rate

FACTOR MARKETS HOUSEHOLDS FIRMS 0 GOODS MARKETS X-M GOVERNMENTS B. Define Y C. Define (X-M) D. Which letter represents government spending? X-M REST OF WORLD Based upon the above figure, answer the following questions A. Define the formula for GDP

How does Standard of Living affect Quality of Life in terms of GDP?

Which of the following(s) is (are) weakness(es) of the GDP in reflecting the standards of living of an economy? (i) It reflects the underground activities in the economy. (ii) It doesn't reflect the number of working hours of the workers. (iii) It reflects the distribution of income inequality among people. (iv) It doesn't reflect crime and other social problems. A. (i) and (iii) only B. (i), (ii) and (iii) only. C. (i) and (iv) only D. (ii) and (iv) only E. All of (i), (ii), (iii) and (iv)

Is gross domestic product a reliable indicator of a nation's economic wealth? What might be a better indicator?

The largest component of GDP is   a. private consumption expenditures   b. private investment spending   c. tax revenue   d. government purchases of goods and services   e. the nation's capital stock

The Compagnie Naturelle sells mounted butterflies, using butterfly bait it buys from another firm for $20,000. It pays its workers $35,000, pays $1000 in taxes, and has profits of $3,000. What is its value added?