Even though it is generally true that the more goods and services people have, the better off they are, GDP provides only a rough measure of well-being
Assuming language is not an issue, what other factors besides GDP might you consider when deciding where to live and work?
Factors not included in GDP which you might consider include the value of leisure, levels of pollution, crime levels, and other social problems. All of these factors are not included in GDP measurements, yet may be very important in making a decision concerning your well-being.
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Figure 5-2
In Figure 5-2, consumer surplus is measured by the area
a.
ABC.
b.
OBCD.
c.
OACD.
d.
DCE.
Refer to the information provided in Table 8.2 below to answer the question(s) that follow.
Table 8.2 
Refer to Table 8.2. Assume that Sherry's Earrings is producing in a perfectly competitive market and the market price for earrings is $60. To maximize profits Sherry should produce ________ pairs of earrings.
A. two B. three C. four D. five
Functional finance is that part of the deficit that is attributable to
A. the exponential increase in interest rates. B. spending programs or tax cuts passed to stimulate an economy in recession. C. fighting the war on terror. D. specific programs (like Medicare).
The profit-maximizing rule says that any seller will expand output up to the point
A. where marginal revenue equals price. B. where marginal revenue equals marginal cost. C. where marginal cost equals price. D. where marginal revenue is less than the price.