Is GDP an accurate measure of a country's well being?
a. Yes, it is the best measure of national well being.
b. Yes, provided we use real GDP and not nominal GDP.
c. The answer is uncertain, depending on whether GDP is rising or falling.
d. No, it is not.
d
You might also like to view...
Workers often have ________ contracts and so their wages are ________
A) short-term; sticky B) short-term; flexible C) long-term; flexible D) long-term; sticky
A firm where owners are usually not managers and not personally liable for the firm's debts is a
A) sole proprietorship. B) general partnership. C) corporation. D) None of above.
As a firm attempts to increase its production, its long-run average costs eventually rise because of
A) the law of diminishing returns. B) diseconomies of scale. C) fixed capital. D) insufficient demand.
The amount of national income in an economy equals the money supply in an economy
Indicate whether the statement is true or false