The problem of political instability has been greatest in which continent?
A. South America
B. Europe
C. Asia
D. Africa
Answer: D
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Which of the following statements is true?
A) Household production is counted in GDP as it amounts to real production. B) GDP growth distributes income equally to people in the economy. C) GDP accounting rules do not adjust for production that pollutes the economy. D) A decrease in the crime rate increases GDP as people will spend more on security.
Which of the following countries is not a member of The Group of Seven?
A. the United States B. China C. Germany D. Japan
If the price of butter increases, the demand for margarine
A) will be unchanged. B) will shift outward. C) will shift inward. D) will kink into an S-curve.
GDP as a measure of the nation's economic performance
A. includes the value of final goods and services produced in the economy. B. excludes nonmarket transactions. C. excludes the value of intermediate goods. D. excludes the sale of secondhand goods.