The wheat is milled into flour that sells

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Reference no: EM13858794

1. We grow wheat that sells for $40,000. The wheat is milled into flour that sells for $55,000. The flour is used to bake bread that sells to consumers for $90,000.

A. $105,000 goes into GDP.

B. $50,000 goes into GDP.

C. $185,000 goes into GDP.

D. $90,000 goes into GDP.

2. If nGDP is $9000 billion while rGDP is $12,000 then the GDP deflator is...

3. Typically, a period where GDP is falling for at least 6 months is considered to be:

A. Recovery

B. Recession

C. Trough

D. Expansion

Reference no: EM13858794

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