GDP tends to underestimate the productive activity in the economy because it excludes the value of output from:
A. intermediate goods.
B. the underground economy.
C. public transfer payments to households.
D. the consumption of fixed capital.
Answer: B
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________ economists believe that active help from fiscal and monetary policy is needed to insure that the economy is operating at full employment
A) Keynesian B) Monetarist C) Classical D) All
The branch of economic theory that analyzes decisions about education and training is
a. welfare economics. b. equilibrium analysis. c. human capital theory. d. consumption theory.
The World Values Survey, a group of international social scientists, who ranks the well-being of society based on social indicators ranks Puerto Rico higher than the United States. This approach to measuring well-being is similar to the approach that the text calls:
A. nominal gross domestic product. B. disposable personal income. C. genuine progress indicator. D. real gross domestic product.
revenue-based incentives
What will be an ideal response?