The market value of final goods and services produced within a country during a period of time is called:
A. government documented production.
B. gross domestic product.
C. general domestic productivity.
D. guaranteed direct prices.
Answer: B
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Real GDP does not show the state of economic welfare in a country in part because GDP omits
I. household production. II. leisure time available. III. the quality of the environment. A) I only B) I and III C) II and III D) I, II and III
The Bureau of Labor Statistics' household survey and establishment survey both yield the same results about total employment
a. True b. False Indicate whether the statement is true or false
To counter parents' concerns about fast foods and childhood obesity, McDonalds considered:
A) a variety of menu items such as milk shakes and candy. B) a variety of menu items such as apple slices, fruit juices, peanut butter and jelly sandwiches, and carrot sticks. C) not changing the menu. D) all of the above.
When purchases of tennis socks decline following an increase in the price of tennis sneakers (other things remaining equal), the relationship between these two items can be described as
A) substitutable. B) complementary. C) unique. D) ordinary.