practice03 - A Transactions involving items produced in the...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
% ¨ ±² ± D ı T ² (±²) ³±´´.±².³´( l ) ü > J ± " T ² , ± s " J, 6~_ ¿ ³y>´ ~ U µ ˝ ³ µ¶– ± ˚ ² ³ ´l ± ´ ‹, j ´ l ± ² ˇ ± (¶±%): ± ± ³¸ , ´ s z p , ·².8 L ´. Transactions involving items produced in the past, such as the sale of a ¶-year-old automobile by a used car dealership or the purchase of an antique rocking chair by a person at a yard sale, are (a) included in current GDP because GDP measures the value of all goods and services sold in the current year. (b) included in current GDP but valued at their original prices. (c) not included in current GDP because GDP only measures the value of goods and services produced in the current year. (d) not included in current GDP because these items have no current value. ³. If net exports is a negative number for a particular year, then (a) the value of ·rms’ inventories declined over the course of the year. (b) consumption exceeded the sum of investment and government purchases during the year.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 2

practice03 - A Transactions involving items produced in the...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online