GDP does not account for things we do not value or like, and these things are called "economic bads."
Indicate whether the statement is true or false
TRUE
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How will an increase in physical capital affect labor productivity, labor demand, and potential GDP?
What will be an ideal response?
Which of the following is true of U.S. national debt between 1958 and 2010?
a. Total debt in the U.S. crossed $104 trillion in 2009. b. Debt as a percentage of GDP was the highest in the year 1978. c. Net interest payable by the U.S. government was the highest in the year 1990. d. Interest payment as a percentage of total government spending was the highest in 2009. e. Net interest payable by the U.S. government crossed $250 billion in 2009.
Government production accounts for about half of all GDP in the United States
a. True b. False Indicate whether the statement is true or false
A decision to postpone commercial development of an undisturbed parcel shows an example of what type of economic benefits?
a. Direct use values b. Indirect use values c. Existence values d. Option values e. Bequest values