Q1. Assume that a doctor who lives alone hires the services of a maid also pays her $15,000 a year to clean his house. Assume that he marries her the subsequent year. Other things equal, which of the following would be true concerning the reported official GDP the following year?
Q2. The current price, paid by businesses, for your widget is 3.00. The current quantity you sell to various businesses is 150,000 per month. You decide to cut the price of your widget from 3.00 to 2.70. You expect (based on internal forecasts) that the quantity you will be willing and able to provide to your customers will decrease from 150,000 to 138,750 per month. What is the effect on total revenue?