If a larger fraction of the adult population is working in the marketplace, household production
A) counted in real GDP increases.
B) not counted in real GDP increases.
C) counted in real GDP decreases.
D) not counted in real GDP decreases.
D
You might also like to view...
Real GDP per person is not an accurate measure of the standard of living because it ______
A. includes the goods and services that governments buy B. omits the goods and services that people produce for themselves C. includes goods and services bought by firms D. omits the goods and services imported from other countries
An economic model is useful only if it:
a. contains no positive statements. b. captures all the complexities of reality. c. yields accurate predictions. d. has both macro- and microeconomic applications.
If consumers reduced their spending, what would happen to the interest rate and investment?
As recessions begin, employment
a) rises and income falls. b) falls and income rises. c) and income both fall. d) and income both rise.