Author Question: The gross domestic product (GDP) excludes: a. the value of a new building. b. the value of new ... (Read 29 times)

Mollykgkg · **on:** Jun 30, 2018

The gross domestic product (GDP) excludes:
a. the value of a new building.
b. the value of new stocks and shares.
c. the cost of a new vending machine.
d. government expenditure on a new bridge.
e. the money spent on the purchase of legal services by a household.

Question 2

In a competitive labor market, the change in total labor costs divided by the change in labor is always equal to:
a. one.
b. the wage rate.
c. the number of firms in the market.
d. the change in total revenue.
e. the competitive market price of the output.