Using real GDP to compare the level of economic well-being in two countries may be misleading because the value of ________ contributes to economic well-being, but is excluded from real GDP.
A. formal education
B. leisure
C. services
D. capital goods
Answer: B
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What takes place in the indirect finance market?
A) Corporate and government bonds are sold to savers. B) Government purchases of buildings and equipment are sold to the highest bidder. C) Part ownership of corporations is sold in the form of stocks. D) Deposits of savers are accepted and lent to borrowers.
When a chartered bank borrows from the Bank of Canada:
What will be an ideal response?
In a competitive market where firms are earning economic losses, which of the following should be expected as the industry moves to long-run equilibrium, ceteris paribus?
A. A lower price and fewer firms. B. A lower price and more firms. C. A higher price and more firms. D. A higher price and fewer firms.
A property of an asset that makes it desirable for use as a means of settling debts maturing in the future is a(n)
A. unit of accounting. B. store of value. C. medium of exchange. D. standard of deferred payment.