Problem Set 5

Problem Set 5 - John (J.C.) Stevens EC205L- Section 216...

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John (J.C.) Stevens EC205L- Section 216 Problem Set #5 This problem set is due by 3pm on 4/8/05. You may work with one other person. You should work only with that partner—that means two groups should not get together and work as a team of four. Please answer all questions to the best of your ability. Circle the multiple-choice answer of your choice, and then explain why your answer is correct, or give an example that proves your answer. It is possible to earn partial points, so do the best you can. NO CREDIT WILL BE GIVEN FOR ONLY SELECTING A MULTIPLE CHOICE ANSWER. 1. Which of the following is NOT a part of U.S. GDP? a) The value of new houses built in Idaho during the year b) The value of Colorado Rockies hats and jackets. c) The value of sales of stocks and bonds bought and sold during the year. d) The value of a new car produced and purchased during the year C is the correct answer, because GDP is a measure of the market value of aggregate production, and transactions that don't involve production aren't
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This homework help was uploaded on 04/02/2008 for the course EC 205 taught by Professor Hymen during the Spring '08 term at N.C. State.

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Problem Set 5 - John (J.C.) Stevens EC205L- Section 216...

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