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D stocks, bonds 5 Which of the following is included in the calculated Gross Domestic Product? O A. Farmer Freddie sells his second tractor to his son. B. Suzanne buys a love seat and chair for $85 at the yard sale on the corner. O c. A local ice cream store sells $17,000 worth of cones and sundaes on July O D. Mr. Farkle mows his own lawn. 6 Which of the following is not counted as a part of GDP? CA. the purchase of 100 shares of AT&T stock by your grandfather
0 D. Mr. Farkle mows his own lawn. 6 Which of the following is not counted as a part of GDP? O A. the purchase of 100 shares of AT&T stock by your grandfather. O B. the purchase of a snow plough by the city of Minneapolis. C. the purchase of a loaf of bread by a consumer .O D. each of the above is counted as GDP If Nominal GDP for the country of Liam ls sso million, what is real GDP? Use a deflator of 86.
0 D. Mr. Farkle mows his own lawn. 6 Which of the following is not counted as a part of GDP? O A. the purchase of 100 shares of AT&T stock by your grandfather. O B. the purchase of a snow plough by the city of Minneapolis. C. the purchase of a loaf of bread by a consumer .O D. each of the above is counted as GDP If Nominal GDP for the country of Liam ls sso million, what is real GDP? Use a deflator of 86.
River P 3: Take on Odigia web / River 7 If Nominal GDP for the country of Liam is $50 million, what is real GDP2 Use a deflator of 8. C) A. $58.14 million O B. $43 million C. $4,300 million ® D. None of the above The difference between nominal GDP and real GDP is: A. nominal GDP measures actual
nthis communty College Qiz 1 Quiz 3: Take on Odigia Website: Macr PCC Canvas D. None of the above 8 The difference between nominal GDP and real GDP is: O A. nominal GDP measures actual productivity O B. nominal GDP adjusts for inflation ° C. real GDP adjusts for inflation D. real GDP excludes imports and exports Reginald looked for work for six months but could not find a job to his liking. He now spends his time at purposes of employment he is considered: A. out of the labor force.
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D D. underemployed 10 If the unemployment rate is 8 percent, then this means O A. 8 percent of the population is unemployed. B. 8 percent of the population age over sixteen is unemployed O c. 8 percent of the labor force is unemployed. D D. the number of unemployed persons equals 8 percent of the employed persons. 1 po If the number of employed persons in a country equals 24 million, the number of unemployed persons equals & millio number of persons over age 16 in the population equals 40 million, the unemployment rate equals
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Answer #1

5. A local ice cream store sells $17,000 worth of cones and sundaes on July 1 is included in calculating GDP. Hence, option(C) is correct.

6. The purchase of 100 shares of AT&T stock by your grandfather is not counted as a part of GDP. Hence, option(A) is correct.

7. Nominal GDP= $50 million

GDP deflator = (Nominal GDP/ Real GDP) 100

86 = (50/Real GDP) 100

Real GDP= (50/86)100

Real GDP = $58.14 million.

Hence, option(A) is correct.

8. The difference between nominal GDP and real GDP is nominal GDP adjusts for inflation. Hence, option(B) is correct.

9. For purposes of employment , Reginald is considered out of the labor force. Hence, option(A) is correct.

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