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Author Question: Which one of the following transactions would be included in GDP? a. Ms. Kim pays 50 for a used ... (Read 284 times)

fox

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Which one of the following transactions would be included in GDP?
 a. Ms. Kim pays 50 for a used picture frame at a neighborhood garage sale.
  b. Mr. Doe donates 500 to his town's junior college scholarship fund.
  c. Ms. Bartolini pays 500 to fix the front end of her car damaged in a recent accident.
  d. Ms. Smith pays 5,000 to purchase 100 shares of Microsoft stock.

Question 2

Which of the following is true?
 a. GDP is a flow concept.
  b. The purchase prices of both intermediate goods and final goods are included in GDP.
  c. GDP measures economic welfare.
  d. GDP is a measure of changes in the general level of prices.


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Joc

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fox

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Reply 2 on: Jun 30, 2018
Wow, this really help


alexanderhamilton

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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