U.S. real GDP
A) measures the change in the price level over time.
B) precisely measures the improving standard of living in the United States.
C) excludes the value of underground production and leisure time.
D) includes the value of underground production but excludes the value of leisure time.
E) is not as accurate as nominal GDP when measuring standard of living changes over time.
C
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If certification decreases supply and serves as a barrier to entry, it ________ the price and ________ market power of the suppliers already in the market.
A) decreases; decreases B) decreases; increases C) increases; increases D) increases; decreases
Every component of M2 is a component of M1, but not all the components of M1 are included in M2
a. True b. False Indicate whether the statement is true or false
What causes the natural rate of unemployment to exist?
What will be an ideal response?
About how much of the tax is paid by consumers in the form of higher prices?
A. 2 cents
B. 8 cents
C. 12 cents
D. 18 cents