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Author Question: Which of the following will be included in the current year's gross domestic product (GDP)? a. The ... (Read 60 times)

imowrer

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on: Jun 30, 2018
Which of the following will be included in the current year's gross domestic product (GDP)?
 a. The sale price of equipment produced last year but sold this year
 b. The money spent by Kate on the purchase of new furniture
 c. The money spent by Barney on the purchase of his uncle's house
 d. The sale price of the stock purchased by John
 e. The opportunity cost of the time spent by Bruno cooking lunch for his neighbor

Question 2

According to the economic theory of labor markets, if unions are successful in raising wages, with no accompanying increase in labor productivity, then which of the following is true?
 a. The quantity of labor demanded by profit-maximizing firms will decline.
  b. The quantity of labor demanded by profit-maximizing firms will increase.
  c. The quantity of labor supplied by workers will decline.
  d. There will be a shortage of labor in the unionized labor market.


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Joy Chen

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

a


imowrer

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

Animal_Goddess

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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