5 All of the following, except one, lead to the official GDP figures being understated.Which is the exception?llegal activities of a productive nature.The existence of an underground economy.A lowering of the GST rate.The work of a homemaker.A homeowner remodelling his basement.All of the following would be considered in the working age population except:A 34 year old stay-at -home dadA 75 year old retired person.A 12 year old who delivers fliers.A 22 year old full-time college student.Which of the following would be considered cyclically unemployed?OA person who has received a small inheritance and is traveling for 6 monthsbefore returning to school.A recent commerce graduate seeking her first job.A steelworker who was laid off a year ago and now has given up looking for ajob.A pulp-mill worker is laid off because the mill's inventories are at an all-timehigh.

Activities not included in GDP are- illegal activities ( black market), underground economy (…

All of the following, except one, lead to the official GDP figures being understated. Which is the exception? llegal activities of a productive nature. The existence of an underground economy. A lowering of the GST rate. The work of a homemaker. A homeowner remodelling his basement. All of the following would be considered in the working age population except: OA 34 year old stay-at-home dad OA 75 year old retired person. OA 12 year old who delivers fliers. A 22 year old full-time college student. Which of the following would be considered cyclically unemployed? A person who has received a small inheritance and is traveling for 6 months before returning to school. A recent commerce graduate seeking her first job. A steelworker who was laid off a year ago and now has given up looking for a job. A pulp-mill worker is laid off because the mill's inventories are at an all-time high.

All of the following, except one, lead to the official GDP figures being understated. Which is the exception? llegal activities of a productive nature. The existence of an underground economy. A lowering of the GST rate. The work of a homemaker. A homeowner remodelling his basement. All of the following would be considered in the working age population except: OA 34 year old stay-at-home dad OA 75 year old retired person. OA 12 year old who delivers fliers. A 22 year old full-time college student. Which of the following would be considered cyclically unemployed? A person who has received a small inheritance and is traveling for 6 months before returning to school. A recent commerce graduate seeking her first job. A steelworker who was laid off a year ago and now has given up looking for a job. A pulp-mill worker is laid off because the mill's inventories are at an all-time high.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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