GDP has various shortcomings in measuring well-being. Which of the following is not one of these?
A. the value of leisure
B. the harm from pollution
C. the cost of crime and other social problems
D. the production of intermediate goods
Ans: D. the production of intermediate goods
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The table below shows how total donations, average donations, total labor costs and average labor costs vary depending on the number of employees State U hires for its fundraising activities.Number ofEmployeesTotal DonationsAverage DonationsTotal Labor CostsAverage Labor Costs1$30,000 $8,0002$42,426 $17,000 3 $17,321$27,000 4$60,000 $9,5005 $13,416$50,000 The net benefit of hiring fundraisers is largest when ________ employees are hired.
A. 2 B. 4 C. 3 D. 1
If the income from investments abroad and net transfer payments are negligible, the current account becomes equivalent to a country's net exports
Indicate whether the statement is true or false
The United States imports cars from Japan. If the United States imposes a tariff on cars imported from Japan
A) U.S. consumers lose and Japanese producers gain. B) U.S. tariff revenue equals the loss of U.S. consumer surplus. C) U.S. consumers lose and U.S. producers gain. D) U.S. car manufacturers gain revenue equal to the revenue lost by Japanese car manufacturers.
If real GDP is increasing more rapidly than the population, then: a. interest rates must be falling
b. the economy must be experiencing inflation. c. per capita real GDP will be increasing. d. per capita real GDP will be decreasing.