The transfer payment that seems to be the lightning rod for media attention and political controversy is
a. agriculture
b. natural resource conservation
c. higher education
d. public assistance
e. space exploration
D
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GDP would be a better measure of economic well-being if it included:
A. the value of leisure. B. the market value of final goods. C. the total value of intermediate goods. D. the costs of education.
If the money supply grows faster than the rate of growth in GDP
A) prices fall. B) interest rates fall. C) prices rise. D) none of these choices.
Real GDP is:
a. the base year market value of all final goods and services produced domestically during a given period. b. the current year market value of all final goods and services produced domestically during a given period. c. usually greater than nominal GDP d. the current year market value of domestic production of intermediate goods.
Since the middle 1980s, Bolivia and many other less-developed countries have experienced
a. negative terms of trade b. constant terms of trade c. increasing terms of trade d. decreasing terms of trade e. zero terms of trade