A quintile is 20% (one-fifth) of a population group
Indicate whether the statement is true or false
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Some economists develop theories concerning policy issues to
A. further their own political agendas. B. understand what happened in an earlier time period. C. describe current economic events. D. make sound recommendations about policy alternatives. E. help elect new government officials.
If we use GDP to measure our standard of living, then our procedure is
A) accurate because our standard of living depends solely on goods and services. B) inaccurate because our standard of living only depends on used goods and services. C) inaccurate because our standard of living does not depend only on goods and services. D) inaccurate because our standard of living has nothing to do with goods and services. E) accurate only if we use nominal GDP rather than real GDP.
Spending on newly constructed homes is part of the investment component of GDP
a. True b. False Indicate whether the statement is true or false
Over the past two decades, the U.S. has persistently exported more goods and services than it has imported
a. True b. False Indicate whether the statement is true or false