In computing real or constant dollar GDP, the purpose is to attempt to
A) Adjust for spending patterns
B) Adjust for the value of a dollar
C) Adjust for more investment
D) Adjust for changes in the housing prices
Answer: B) Adjust for the value of a dollar
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Answer the following statement(s) true (T) or false (F)
1. Proponents of an environmentally adjusted measure of national income believe that environmental pollution linked to production should be recorded as a loss in the system of national accounts (SNA). 2. Improvements made to China’s environment in preparation for the Olympic Games in 2008 have been maintained and even enhanced over time. 3. The economic criteria concerned with minimizing resource use to achieve an objective is known as allocative efficiency. 4. Setting an air quality standard is an example of a command and control approach to improving the environment. 5. A tax imposed on emissions is an example of the market approach to pollution control.
A terrible storm wipes out 70 percent of the peanut crop. Explain and show graphically how this will affect the market for peanut butter and the market for jelly, a complementary good
How is an indifference map like a topographic map?
Please provide the best answer for the statement.
The interest rate at which the Federal Reserve Banks lend to commercial banks is called the:
A. prime rate. B. short-term rate. C. discount rate. D. federal funds rate.