A professional gambler moves from a state where gambling is

A professional gambler moves from a state where gambling is ilegal to a state where gambiling is legal. This move Select one a necessarily raises GDP b. necessarily decreases GDP C. doesn\'t change GDP because gambling is never indluded in GOP d.doesn\'t change GDP because in either case his income is included

Solution

1. Legal gambling is included in the GDP.

2. It will be included in GDP of Romania and not it GDP of US. As GDP is value of all goods and services domestically produced in a country.

3. D

We need more information about how the prices have changed since 1930’s.

4.They reflect the values of goods and services.

5.equal without no savings as hhs provide labour and get rents and wages in return. They spend and it becomes expenditure.

6.it should increase the gdp.

7. 14*5+9*10=70+90=160

8. 12*5+14*10=60+140=200

Inflation is (200-160/160)*100=(40/160)*100=1/4*100=25%

9.

10. D Useful for macro and micro analysis.

11.c 90-100/100=10%

80-90/90=11%

12. Market value of Goods and Services. Definition of GDP.

13.CAPITAL INVESTMENT OR IT MAY ALSO BE CALLED AS FIXED COST.

14.D

FOLLOWS FROM CIRCULAR FLOW.

15.