If measurement errors did not exist, real per capita GDP would be an undeniably accurate measure of human welfare.
Answer the following statement true (T) or false (F)
False
Real per capita GDP, even if measured correctly, is a measure of market activity, not human happiness.
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In Great Britain, raising taxes on gasoline has increased the costs of supplying gasoline. As a result, the equilibrium quantity of gasoline ________ and the equilibrium price of gasoline ________
A) increases; falls B) decreases; falls C) does not change; rises D) decreases; rises E) increases; rises
Consolidation or cooperation frequently occurs in the public sector. Give some reasons why local governments consolidating or cooperating through special districts might be problematic
What will be an ideal response?
Which type of ratio measures the ability of a business to meet short-term financial obligations?
a. liquidity ratios b. activity ratios c. financial leverage ratios d. profitability ratios e. value of the firm ratios
Stagflation is the simultaneous occurrence of
A) low inflation and high unemployment. B) high inflation and low unemployment. C) low inflation and low unemployment. D) high inflation and high unemployment.