GDP measures underestimate the value of output produced by an economy because they include services not transferred through markets
Indicate whether the statement is true or false
FALSE
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Under the Bland-Allison Act of 1878,
(a) the U.S. Treasury committed to buying silver for coins at the current market price. (b) the U.S. Treasury committed to buying gold for coins at a set price. (c) the U.S. was placed on the gold standard. (d) the National Monetary Commission was created.
The geographic region in the United States with the highest poverty rate is the South
a. True b. False Indicate whether the statement is true or false
Marginal propensity to consume is equal to the change in ____ divided by the change in ____
a. consumption spending; total income b. saving; total income c. saving; disposable income d. consumption spending; disposable income
Which of the following is a normative economic statement?
A. The price of milk is too high. B. The current high price of milk is the result of reduced worldwide supply. C. When the price of milk rises, the quantity of milk purchased falls. D. When the price of milk rises, the cost of milk-based products rises.