Which of the following market transactions of final goods and services are excluded from the computation of U.S. GDP?
A) Purchases of products such as wine, beer, hard liquor, and cigarettes.
B) Secondhand transactions, such as when a used car is sold.
C) New purchase that a resident of one state makes in a different state.
D) Purchases of necessities such as groceries and rent.
Correct Answer:
Verified
Q5: The circular flow model assumes:
A) businesses and
Q6: GDP:
A) is the dollar value of all
Q7: The circular flow of economic activity is
Q9: Which of the following expenditures would be
Q10: Which one of the following transactions would
Q11: Economic values that are measured in units
Q12: Gross domestic product (GDP) includes:
A) intermediate as
Q13: Activities that are directly included in GDP
Q14: Which of the following expenditures would not
Q15: The lower portion of the circular flow
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