GDP does not reflect
a. the value of leisure.
b. the value of goods and services produced at home.
c. the quality of the environment.
d. All of the above are correct.
d
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Assuming no kinks in indifference curves and assuming our usual assumptions about tastes hold, someone who currently neither saves nor borrows will begin to borrow when the interest rate falls.
Answer the following statement true (T) or false (F)
Net exports of goods are known as
A) the balance of payments. B) the merchandise trade balance. C) the current account. D) the financial account.
The Bureau of Economic Analysis calculates the PCE deflator ________
A) every month B) every two months C) every three months D) every year E) twice each month
?Hair Pins /hourBandanas /hourNigel410Mia93
Consider two individuals, Nigel and Mia, who produce hair pins and bandanas. Nigel's and Mia's hourly productivity are shown in Table 3.3. Nigel's opportunity cost of producing one bandana is:
A. 1/4 of a hair pin. B. 2/5 of a hair pin. C. 2.5 hair pins. D. 4 hair pins.