Gross domestic product understates the total production of final goods and services because of the omission of
A) the underground economy.
B) intermediate goods.
C) inflation.
D) exports.
Answer: A
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Which of the following is an example of a positive externality (additional social benefit)?
A. an increase in the value of land you own when a nearby development is completed B. falling property values in a neighborhood where a disreputable nightclub is operating C. the costs paid by a company to build an automated factory D. the higher price you pay when you buy a heavily advertised product
New firms are able to enter monopolistically competitive markets because there are low barriers to entry
Indicate whether the statement is true or false
To answer the following question, please refer to the figure below. Concentrating only at the upper right quadrant, discuss the foreign exchange market equilibrium
What will be an ideal response?
Between 2006 and 2008 the poverty rate
A. rose by about one percent. B. fell by about one percent. C. rose by around three percent. D. fell by about three percent.