Quiz 5 - 1. A professional gambler moves from a state where...

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1. A professional gambler moves from state where gambling is illegal to a state where gambling is illegal to a state where gambling is legal. ost of his income was and continues Most of his income was, and continues to be, from gambling. His move: a. necessarily raises GDP. ecessarily decreases GDP Answer : A b. necessarily decreases GDP. oesn't change GDP because gambling c. doesn t change GDP because gambling is never included in GDP. oesn't change GDP because in either d. doesn t change GDP because in either case his income is included.
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correct? he value of intermediate goods is always included in is correct? a. The value of intermediate goods is always included in GDP. he value of intermediate goods is included in GDP only b. The value of intermediate goods is included in GDP only if those goods were produced in the previous year. c. The value of intermediate goods is included in GDP only if those goods are added to firms’ inventories to be used
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This note was uploaded on 08/30/2011 for the course ART 3514 taught by Professor Dhbannan during the Summer '03 term at Virginia Tech.

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Quiz 5 - 1. A professional gambler moves from a state where...

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