GDP measures how many goods and services are produced but says nothing about whether the quality of life has improved
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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A common resource is used efficiently if
A) the output is maximized. B) marginal social benefit equals marginal social cost. C) marginal private benefit equals marginal private cost. D) marginal social benefit is maximized.
Economics
Which of the following is not a property of assets?
A) risk B) inflation. C) liquidity D) maturity
Economics
Unlike a "service," a "good"
a. is desirable b. uses resources to satisfy wants c. is physical and tangible d. is abundant and free e. is a resource
Economics
Consider an economy made up of 100 people, 60 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The number counted as unemployed is
a. 10 b. 15 c. 40 d. 30 e. 90
Economics