Author Question: Final goods or services used to compute GDP refer to: a. the sum of all wages paid to laborers. b. ... (Read 48 times)

Hungry! · **on:** Jun 30, 2018

Final goods or services used to compute GDP refer to:
a. the sum of all wages paid to laborers.
b. the factors of production used to produce output.
c. goods and services purchased by the ultimate users.
d. the value of outstanding shares of stock of manufacturing firms.

Question 2

In the short run, a decrease in the general price level will cause business profits to rise and, hence, the total quantity of output to increase.
a. True
b. False
Indicate whether the statement is true or false