Answer:
count all goods and services purchased by consumers, firms, and the government.
Explanation:
GDP is a measure of the total products and services produced in an economy per period. Economists calculate GDP to understand the directions of the economy. An increase in GDP indicates growth. In calculating the GDP value, economists consider finished consumer products only.
Double-counting means calculating the value of output multiple times. To avoid double-counting, economists do not consider work-in-progress and goods used to produce more products and services. Work is progress is goods still in the production process. If counted, there is a possibility of them being counted again as finished products. Capital goods or goods used to produce other goods are counted once as the finished product.
The correct definition of an asset is B. An asset is a resource that a business owns or controls.
<h3>What is an Asset?</h3>
This refers to the commodity that a person owns that generates money over a period of time.
Hence, we can see that from the given answer choices, there are different definitions, but the correct definition is found in option A because it states that it is a resource that a business owns or controls.
Read more about assets here:
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Answer:
The correct answer is option b.
Explanation:
Mathew bakes and sells apple pies. Apple here is used as an input. If the price of apple increases, it means the cost of producing apple pies is increasing as well.
At the given cost the firm will be able to produce fewer apple pies. This will cause a reduction in the supply of apple pies. Consequently, the supply curve will shift to the left.
Federal Open Market Committee
Answer:
Pure risk
Explanation:
To the best of knowledge, will it is a situation one finds him/herself in and doesn't know how to solve the issue but has only one possible outcome if it truly happens; which could be danger.
