One of the reasons that Real Gross Domestic Product is not synonymous with social welfare is

A. things produced by people under 18 are not counted.
B. people substitute between goods.
C. it ignores the value of leisure.
D. quality has remained steady.


Answer: C

Economics

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Using marginal analysis, an economist would judge the proper distribution of government spending by comparing

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Recurring upswings and downswings in an economy's real GDP over time are called:

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