Assume that there is a devastating wildfire in Northern California. Putting out the fire is very expensive, and many homes have to be rebuilt. How does this affect GDP?
A) GDP will go up.
B) GDP will go down.
C) GDP will be unaffected.
D) It depends on whether the government borrowed money to pay for the cost of containing the fire.
Correct Answer:
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Q32: Which of the following would be classified
Q33: Gross Domestic Product consists of spending on
A)
Q34: What is disposable personal income?
A) Income that
Q35: What is included in employee compensation?
A) wages,
Q36: When exports are less than imports, the
Q37: The circular flow of money refers to
A)
Q38: Property income includes
A) bonuses, commissions, rent and
Q39: What agency tracks aggregate activity in the
Q40: What's the difference between GNP and GDP?
A)
Q41: Mary has been working as a housekeeper
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