Question
Can you help me with this.. 1.Which of the following transactions would be included in GDP for 2011? a.On January 5, 2011, Maya sold 100
Can you help me with this..
1.Which of the following transactions would be included in GDP for 2011? a.On January 5, 2011, Maya sold 100 shares of stock In IBM Corporation
b. Bonita purchases a brand new 2011 Honda Civic car on March 10, 2011
c. Daniel buys a used desk from Craigslist.com on May 9, 2011.
d. Levi purchases a 75-yearold penthouse on Lake Shore Drive Chicago, , on June 23, 2011
2.You have been asked to measure Gross Domestic Product. You are informed that the sum of consumption, domestic investment, government purchases, and exports is $24 trillion. You then learn that Imports are $2 trillion. To get GDP you should
a. add $2 trillion to $24 trillion because imports are purchased by consumers, firms, and the government
b. add $2 trillion to $24 trillion because imports are as inputs in the production of other goods
c. subtract $2 trillion from $24 trillion because imports are purchased by consumers, firms, and the government
d. subtract $trillion from $24 trillion because imports are foreign products.
3.Suppose that over time, the country of Agra switched from being an agriculturally-based economy to technologically-based economy. As a result, many their jobs because they lacked the skills to use the new technology. These people would be considered a part of the
a. frictionally unemployed.
b. structurally unemployed.
c. cyclically unemployed.
d. discouraged workers .
4. Joe decided to quit his job at the University of Wisconsin Dolt Lab because did not find the work challenging enough Joe currently looking for a better job. Therefore , Joe would be labeled as
a. frictionally unemployed .
b. structurally unemployed .
c. cyclically unemployed.
d. discouraged workers.
5. What are intermediate goods? a. Goods that are not sold or exchanged in an economy
b. Goods used in the production of other goods
c. Goods that were sold in earlier years
d. Goods that are produced outside the country
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