Economic well-being in Canada is understated by growth rates because they:
What will be an ideal response?
don't account for improvement in products
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In the GDP accounts, investment includes the purchase of newly issued shares of stock
Indicate whether the statement is true or false
All decisions of the Fed are subject to approval by: a. the President of the United States. b. the U.S. Congress
c. the FDIC d. none of the above
Under perfect competition, a firm is a price taker because:
A. setting a price higher than the going price results in profits. B. each firm's product is perceived as different. C. each firm has a significant market share. D. setting a price higher than the going price results in zero sales.
If the CPI were to decline from 145.7 to 143.9, this would be an example of
A. disinflation. B. deflation. C. both disinflation and deflation. D. neither disinflation nor deflation.