Per capita real GDP is of limited use as a measure of economic well being for all the following reasons, except:
a. it says nothing about the quality of the environment.
b. it does not reflect the degree of personal freedom in a society.
c. it is not adjusted for changes in leisure time.
d. it is not adjusted for changes in the rate of inflation.
e. it says nothing about the distribution of income.
d
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Refer to Figure 7-3. If there was no quota, how many pounds of peanuts would be imported?
A) 16 million B) 28 million C) 30 million D) 40 million
Answer the following questions:
a. In 2004, four major hurricanes hit Florida. Explain how this destruction of property, and the rebuilding that went on afterward, affected GDP. b. Explain how GDP has trouble accounting for other parts of the economy as well.
Borrowing VCU3 from an online company cause the nation's:
a. M2 money supply to rise. b. M2 money supply to fall. c. M2 money multiplier to fall. d. Monetary base to remain the same.
Which of the following best summarizes the importance of business failure and the central idea of "creative destruction in a market economy"?
What will be an ideal response?