As measured, GDP omits which of the following? i. Illegal sales ...

[jc611]

As measured, GDP omits which of the following? i. Illegal sales of goods and services ii. Changes in the amount of leisure time iii. Household production of goods and services
 
  A) i only
  B) i and ii
  C) ii and iii
  D) i and iii
  E) i, ii, and iii

Question 2

Mike went to a shop to buy a pair of gloves. Who will have a higher bargaining power if the seller knows that Mike needs the gloves urgently?
 
  What will be an ideal response?

[irishcancer18]

Answer to Question 1

E

Answer to Question 2

The seller will have a higher bargaining power if he knows that Mike needs the gloves urgently. This is because he knows he can get away with charging a higher price because Mike does not have the time to check for other deals available in the market.