Per capita GDP will definitely rise if
A. There is a decrease in the size of the working population.
B. The rate of economic growth falls.
C. The population falls and GDP does not fall.
D. The rate of economic growth is less than the rate of population growth.
Answer: C
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Pollution is a by-product of some production processes, so on this count real GDP as measured
A) is adjusted downward to take into account the pollution. B) is adjusted upward to take into account the expenditures that will be made in the future to clean up the pollution. C) tends to overstate economic welfare. D) tends to understate economic welfare.
The major cause of a 3-4% increase in unemployment over a short time period is likely to be a structural unemployment change
Indicate whether the statement is true or false
A government ban on a good that suffers from overconsumption may be ineffective if the:
A. likelihood of being caught breaking the ban is sufficiently high. B. likelihood of being caught breaking the ban is very low. C. punishment for breaking the ban is severe. D. public did not participate in setting the punishments.
Economists regard both currency and deposits as money
Indicate whether the statement is true or false