Goods added to inventories during given year

Assignment Help Business Economics

Reference no: EM131378673

1. Goods added to inventories during a given year are:

a) counted as part of GDP for that year even thought they do not pass through markets

b) not counted as part of GDP for that year because they do not pass through markets

c) not counted as part of GDP for that year because that would amount to double-counting, once the year they are produced and again the year they are sold

d) arbitrarily valued at half the cost of production in calculating GDP for that year, since there is always a chance they will never be sold

2. If aggregate demand grows more rapidly than aggregate supply, prices

a) and nominal GDP are both likely to rise

b) are likely to rise but nominal GDP is likely to fall

c) and nominal GDP are both likely to fall

d) are likely to fall but nominal GDP is likely to rise

Reference no: EM131378673

Questions Cloud

Where did christianity develop deep roots in asia : What led to European Christianity becoming so deeply embedded into European society and culture? Where did Christianity develop deep roots in Asia and Africa before 1500 C.E? Why?

The appropriate index of prices increased : Assume that between 1990 and 2000 the money GDP of an economy increased from $3 trillion to $8 trillion and that the appropriate index of prices increased from 100 to 200. Which of the following expresses GDP for 1990 in terms of 2000 prices? Which o..

Describe the process and point out any elements of waste : Pick one of their processes (For example: taking customer orders at McDonalds). Describe this process and point out any elements of waste. Describe how you would improve this process to eliminate the waste you identified.

Which is not a factor that influences the span of management : Which of the following is NOT a factor that influences the span of management? The primary purpose of staff authority is to provide line personnel with advice and counseling.

Goods added to inventories during given year : Goods added to inventories during a given year are: If aggregate demand grows more rapidly than aggregate supply, prices

In what was were vietnam and iran affected by this conflict : How was the newly-emerging nations (former colonies) affected by the Super Power conflict between the Soviet Union and the United States? In what was were Vietnam and Iran affected by this conflict

What are the four elements of a contract : What is a contract?- How did the law merchant develop?- How did the law merchant merge with common law?- What are the four elements of a contract?

How did the supreme court decide the case : Several businesspeople secured a contract with the state of Massachusetts that permitted them to construct a bridge spanning the Charles River.- . How did the Supreme Court decide the case? Explain.

Did rockefeller raise or lower price of oil for consumer : Did Rockefeller raise or lower the price of oil for consumers? Did he increase or decrease access to oil? What impact did this change have on the living experience of consumers? In particular, were wealthy consumers or poor consumers impacted more?

User Account

All Pages