Per capita real Gross Domestic Product (GDP)
A. gives only the welfare of the richest areas of the country.
B. does not tell us the welfare level in the country.
C. tells us the overall welfare conditions of all the country's citizens.
D. gives only the welfare of the country's corporations.
Answer: B
You might also like to view...
Which of the following raises the price of a used car and increases the equilibrium quantity sold?
A) a new 8 percent federal excise tax placed on all new car purchases B) an increase in wages for used car salespeople C) a special rebate program on all new cars D) None of the above answers is correct
Robert Lucas and his followers have argued that the Philips curve appears to be:
a. a vertical line. b. a horizontal line. c. a negatively-sloped curve. d. a positively-sloped curve.
The Interstate Commerce Commission regulated the trucking industry for many years in order to
a. shield the railroads from competition in trucking b. prevent economic profits from being made c. regulate the truck monopoly in the interests of the consumer d. prevent economies of scale from occurring e. punish truck drivers for unionizing
Economists consider rent seeking activity to be highly productive
a. True b. False Indicate whether the statement is true or false