If the size of the underground economy is large
A) government agencies have difficulty measuring nominal and real GDP.
B) it is relatively easy to gather productivity data on many businesses.
C) measuring nominal GDP is relatively easy, but measuring real GDP is difficult.
D) measuring real GDP is relatively easy, but measuring nominal GDP is difficult.
Answer: A
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Explain why the short-run supply curve is not vertical, but the long-run aggregate supply curve is vertical
There exist only two causes of monopoly: barriers to entry and government restrictions
a. True b. False Indicate whether the statement is true or false
Free trade may lead to more pollution because
A. with free trade, the size of the economy increases resulting in higher production and consumption. B. competition among nations invariably leads to less restrictive pollution standards. C. imported products are produced using cleaner production techniques than domestic products. D. the countries may not specialize in the production of goods in which they have comparative advantage.
A person will do more good pursuing his own self-interest than if he consciously set out to promote the public good was the view of
A. Karl Marx. B. John Maynard Keynes. C. Mikhail Gorbachev. D. Adam Smith.