Suppose the government eliminates all environmental regulations and, as a result, the production of goods and services increases, but there is considerably more pollution. Based on this scenario, which of the following statements is correct?
a. GDP would definitely increase, despite the fact that GDP includes environmental quality.
b. GDP would definitely decrease because GDP includes environmental quality.
c. GDP would definitely increase because GDP excludes environmental quality.
d. GDP could either increase or decrease because GDP excludes environmental quality.
c
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The above table gives data for the nation of Mouseville. There are no imports into or exports from Mouseville. Unplanned inventory changes equal $50 billion when real GDP equals
A) $800 billion. B) $900 billion. C) $500 billion. D) $300 billion. E) $700 billion.
Refer to Table 22-3. Use the table above to calculate the annual growth rate in GDP. Also calculate the total percentage change in the growth from 2013 through 2016
Explain the difference between the average annual growth rate in real per capita GDP from 2013 through 2016 and the total percentage change in growth from 2013 and 2016.
Consumer preferences for chocolate milk have decreased. If all other things are equal, what is the likely result of this decrease?
a. The supply of chocolate milk will decrease sharply. b. Market demand for chocolate milk will shift to the left. c. Market demand for chocolate milk will shift to the right. d. Both the price and supply of chocolate milk will decrease.
Your financial advisor tells you that if you earn the historical rate of return on a certain mutual fund, then in three years your $20,000 will grow to $23,152.50 . What rate of interest does your financial advisor expect you to earn?
a. 5 percent b. 6 percent c. 7 percent d. 8 percent