Examlex
Which of the following expenditures are not included in the consumption component of GDP?
Price of Clothing
The amount of money required to purchase garments and attire.
Cardinal Utility Function
Utility function describing by how much one market basket is preferred to another.
Ordinal Utility Function
Utility function that generates a ranking of market baskets in order of most to least preferred.
Budget Line
A graphical representation of all possible combinations of two goods that can be purchased with a given budget and prices.
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