Real GDP can be criticized as a measure of economic welfare because it
A) does not include the value of products produced in the household.
B) does not take account of the degradation of environmental quality.
C) does not include leisure time available to a society.
D) All of the above answers are correct.
D
You might also like to view...
Suppose two companies, Macrosoft and Apricot, and considering whether to develop a new product, a touch-screen t-shirt. The payoffs to each of developing a touch-screen t-shirt depend upon the actions of the other, as shown in the payoff matrix below (the payoffs are given in millions of dollars). 
Suppose Apricot makes its decision first, and then Macrosoft makes its decision after seeing Apricot's choice. What will be the equilibrium outcome of this game?
A. Both Apricot and Macrosoft will develop a touch-screen t-shirt. B. Macrosoft will develop a touch-screen t-shirt, and Apricot will not. C. Apricot will develop a touch-screen t-shirt, and Macrosoft will not. D. Neither Apricot nor Macrosoft will develop a touch-screen t-shirt.
________ is a period of falling prices of goods and services in an economy
Fill in the blank(s) with correct word
Figure 5-10
In the indifference curve pictured in Figure 5-10, which of the following is clearly true?
A. B is preferred to D. B. B is preferred to C. C. A is preferred to B. D. C is preferred to D.
The Keynesian contention that the short-run aggregate supply curve is horizontal is based on the assumption that there are
A. upward sloping prices. B. sticky prices. C. real prices. D. flexible prices.