Author Question: How does the contribution to national output of a wheat farmer get counted in the gross domestic ... (Read 82 times)

berenicecastro · **on:** Jun 29, 2018

How does the contribution to national output of a wheat farmer get counted in the gross domestic product if the Bureau of Economic Analysis measures only the value of final goods such as loaves of bread?

A) Agricultural production is not part of GDP.
B) It is counted separately by the Department of Internal Revenue.
C) It is included in the cost of materials purchased by those who sell loaves of bread.
D) It is not counted, which results in an underestimation of GDP.
E) Wheat is also a final good because it is more ultimate than bread.

Question 2

In chapter 1 your authors marveled at the way highway traffic is orderly and self-regulating. In chapter 6, however, they discuss a growing problem on urban roadwayscongestion. What's the cause of roadway congestion?

A) Typically, road use is a scarce good with a zero price tag.
B) Not enough drivers have studied economics.
C) More and more drivers think only of themselves.
D) Population growth