Question 19 Not yet answered Points out of 1.0 F Flag question Which option best

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Question 19 Not yet answered Points out of 1.0 F Flag question Which option best defines Gross Domestic Product (GDP)? Select one: a. The market value of all the final goods and services produced within a country O b. The total amount of profits earned by U.S. firms from production over the year O C.The value of all the private spending on products made by corporations O d. The total amount of sales from U.S. own companies Question 20 Not yet answered Points out of 1.0 P Flag question A newspaper reports that in an urban area the average price of new homes has decreased, but the number of new homes sold has increased. This situation would best be explained by a: Select one: O a, decrease in demand (all else constant) b, decrease in supply (all else constant. C. increase in supply (all else constant). O d. increase in demand (all else constant).

Explanation / Answer

Q19
Option a
The GDP is the sum of all final goods and services produced within a country
Q20
Option c
The increase in supply shifts to right and that decreases price and increases the quantity

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