ECN 211 Final (Exams 1, 2, 3) ASU

Which of the following is included in GDP? A. recreational marijuana purchased from a drug dealer by a college student? B. Recreational marijuana purchased and consumber by a man in his attic. C. medical marijuana purchased from a government-run pharmacy by a glaucoma patient. D. All of the above - ✔✔C. medical marijuana purchased from a government-run pharmacy by a glaucoma patient. you know a candy bar cost five cents in 1962. You also know the CPI for 1962 and the CPI today. Which of the following would you use to compute the price? A. five cents * today's CPI- five cents * CPI in 1962 B.Five cents *(1962 CPI/ Today's CPI) C. five cents * (Today's CPI/ 1962 CPI) D. five cents * (today's CPI - 1962 CPI)/1962 CPI - ✔✔C. five cents * (Today's CPI/ 1962 CPI) Discouraged workers are included in... A. Frictional Unemployment B.The number of unemployed C. the labor force D. none of the above - ✔✔D. none of the above when a country has a comparative advantage in producing a certain good, A. The country should produce just enough of that good for its own consumption. B. the country should import that good. C. The country's opportunity cost of that good is high relative to other countries' opportunity costs of the same good. D. None of the above - ✔✔D. None of the above