Gordon is a person who sells narcotics "on the street." This type of illegal activity ________.
A. causes GDP to be overstated
B. is estimated and included in GDP figures
C. is excluded from GDP figures
D. would be considered double counting in calculating GDP
Answer: C
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What will be an ideal response?
Explain how comparative advantage, specialization and division of labor are related
What will be an ideal response?
The Celler-Kefauver Act deals primarily with which of the following issues?
a. price discrimination b. exclusive dealing c. mergers d. deceptive advertising e. boards of directors
A change in the slope of a budget line is solely the result of a change in:
A. consumer preferences. B. the price of one good relative to the other. C. money income. D. the slope of the indifference curve that is tangent to the budget line.