Homework Answers
Intermediate goods are inputs goods that are used in the production of another good.For example flour is an intermediate good when used in production of cake.Flour is a final good when used for domestic consumption.
Cake would be counted in GDP and flour would not be counted because in the cost of cake the cost of flour is also included with all other inputs.Adding flour to GDP would result in overestimation of GDP and double counting.
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19. What is an intermediate good? Why is it excluded from GDP? Give a unique (not...
20. What types of transactions are not included in GDP? Why? (5 pts) Nonproduction transactions must...
20. What types of transactions are not included in GDP? Why? (5 pts) Nonproduction transactions must be excluded from GDP because they have nothin generation of final goods. There are two types of nonproduction transactions: pure transactions and second hand sales.
Which of the following is NOT true about gross domestic product (GDP)? a. It includes only...
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On April 20, 2001, Yan Fangjiao, general manager of the Instruments Division of Stone Group Corp....
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macoroeconomics 1. Society as a whole faces opportunity costs because a. there is not enough money to go around...
macoroeconomics
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macroeconomic please solve it all i need help 8. If the price of coffee decreases, all...
macroeconomic
please solve it all
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20. What types of transactions are not included in GDP? Why? (5 pts) Nonproduction transactions must be excluded from GDP because they have nothin generation of final goods. There are two types of nonproduction transactions: pure transactions and second hand sales.
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ΤΕΧΝΙΤΗΤΗ iple Choice y the choice that best completes the statement or answers the question. The production possibilities frontier is a graph that shows the various combinations of output that an economy a. should produce. b. wants to produce. c. can produce d. demands 2 The price index was 320 in one year and 360 in the next year. What was the inflation rate? a. 9 percent ((B-A)/A)*100 b. 11.1 percent c. 12.5 percent ((360 - 320)/320)*100 d. 40 percent...
macoroeconomics
1. Society as a whole faces opportunity costs because a. there is not enough money to go around b. politicians are greedy c. resources are scarce d. our needs are unlimited 2. Mary decides to spend 3 hours working overtime rather than watching a video with her friends. She earns $9 an hour. Her opportunity cost of working is: a. the enjoyment she would have received had she watched the video with friends. b. $27 she earns working c....
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please solve it all
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