Author name: admin

A. a haircut
B. the value of a lawyer’s services
C. a 2005 Honda made in Swindon
D. All of things mentioned in these answers should be counted in 2005 GDP.

A. Profit
B. rent
C. unemployment benefits
D. government purchases
E. wages

A. Is likely to want to decrease demand in the economy
B. Is likely to want to decrease demand in the economy
C. Is likely to want to stabilise demand in the economy
D. Is likely to want to increase supply in the economy

A. Add indirect taxes
B. Subtract subsidies
C. Deduct indirect taxes and subsidies
D. Deduct indirect taxes and add subsidies

A. GNP
B. NNP
C. Depreciation
D. Real GDP

A. Unemployment is likely to be low
B. Prices are likely to increase
C. Growth is negative
D. Growth is slow

A. Net National Product adjusted for inflation
B. Gross Domestic Product adjusted for inflation
C. Gross Domestic Product plus net property income from abroad
D. Net National Product plus net property income from abroad

A. capital increasingly replaces labor
B. technological change compensates for capital depletion
C. costs rise, leaving less capital for future investment
D. contingent valuation becomes critical

A. biological diversity is dominant in agricultural production
B. the globe’s water pollution affects plankton
C. the earth’s atmosphere traps infrared radiation
D. climatic changes occur naturally in the forest

A. rivalry and exclusion in consumption
B. nonrivalry and nonexclusion in consumption
C. rivalry but nonexclusion in production
D. nonrivalry but exclusion in usage