Author Question: As residents of developing countries increase their chocolate consumption, the increased production ... (Read 103 times)

jasdeep_brar · **on:** Jun 29, 2018

As residents of developing countries increase their chocolate consumption, the increased production of cocoa results in

A) increased opportunity cost of cocoa production.
B) decreased opportunity cost of cocoa production.
C) no change in production of other goods and services.
D) increased production of other goods and services.

Question 2

When measuring GDP,

A) the government sector is not included because it is the public sector not the private sector.
B) the government sector is counted, and the value of the government sector in GDP is equal to its tax revenue.
C) only the federal government's expenditure on goods and services are included.
D) the expenditure on goods and services by all levels of government are included.
E) the government sector is not counted because it does not produce goods and services.