When people smoke cigarettes, their friends and family members may become sick. This affects GDP by
a. reducing GDP by the amount of medical care needed.
b. reducing GDP by the cost of the cigarettes purchased.
c. increasing GDP by the cost of the medical care and the cost of the cigarettes purchased.
d. decreasing GDP by the cost of the medical care and increasing GDP by the cost of the cigarettes purchased.
c
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The figure above shows that to make the price support work, the government buys ________ million tons of sugar beets
A) 10 B) 20 C) 30 D) 5 E) 15
The Sherman Antitrust Act outlawed tying contracts
a. True b. False Indicate whether the statement is true or false
Economic theory suggests that the standard of living of American workers would rise if
a. the minimum wage were doubled. b. technological setbacks lowered output per worker hour. c. the amount of physical capital increased. d. automation was outlawed.
Marginal analysis of a 'one thing' decision
What will be an ideal response?