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  • NIPA annual revisions usually occur #611
  • The two major reasons for the tremendous growth in output in the U.S. economy over the last 125 years are #612
  • NIPA benchmark revisions are those that #613
  • When the NIPA data incorporate changes in data-construction methods or a new base year, the revisions are called #614
  • The Bigdrill Company drills for oil, which it sells for $200 million to the Bigoil Company to be made into gas. The Bigoil Company’s gas is sold for a total of $600 million. What is the total contribution to the country's GDP from companies Bigdrill and Bigoil? #615
  • Sam's Semiconductors produces computer chips, which it sells for $10 million to Carl's Computer Company (CCC). CCC's computers are sold for a total of $16 million. What is the value added of CCC? #616
  • The Compagnie Naturelle sells mounted butterflies, using butterfly bait it buys from another firm for $20,000. It pays its workers $35,000, pays $1000 in taxes, and has profits of $3000. What is its value added? #617
  • A mathematical expression relating the amount of output produced to quantities of capital and labor utilized is the #618
  • In the production function Y = AF(K, N), A is …, K is …, and N is … #619
  • In the production function Y = AF(K, N), total factor productivity is #620
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