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Author Question: Jack swapped his basketball for Jim's glove. Even if national income accountants were aware of this ... (Read 42 times)

Ebrown

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on: Jun 29, 2018
Jack swapped his basketball for Jim's glove. Even if national income accountants were aware of this trade, they wouldn't include it in their GDP measure because
 
  A) it was an unproductive exchange.
  B) the basketball and glove were not final goods.
  C) this was not a market transaction.
  D) it failed to increase the wealth of both traders.
  E) there is no satisfactory way to determine market values for bartered goods, new or used.

Question 2

Which of the following economic activities is ignored in GDP accounts?
 
  A) The market value of medical services
  B) The market value of educational services
  C) The market value of illegal drugs
  D) The market value of prescription drugs
  E) The market value of the services associated with used-car dealers


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soda0602

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Reply #1 on: Jun 29, 2018
Answer to Question 1

E

Answer to Question 2

C


Ebrown

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

tkempin

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Reply 3 on: Yesterday
Excellent

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