Economic systems should only be judged on efficiency.
Answer the following statement true (T) or false (F)
False
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Which of the following accurately measures the welfare or happiness of society?
A) Nominal GDP B) Real GDP C) Both Nominal GDP and Real GDP D) None of the above.
The economic growth of the United States over the last half-century ________
A) is best understood as the result of high levels of saving and investment B) is quite similar to the experience of most other economies C) was driven by rising import purchases D) has been slower than growth in several other economies
The term "present value" refers to the future value of present day money.
A. True B. False C. Uncertain
Who tends to benefit from the sugar price supports?
a. users of sugar in other products b. individual users of sugar c. producers of other agricultural products d. producers of sugar e. All of the above are correct.