One of the limitations of the national income accounting system is:
a. valuing all output at its market price regardless of its contribution to society's economic welfare.
b. placing a market value on all negative externalities
c. accurately measuring the value of leisure time.
d. double counting food produced on a farm for family consumption.
e. ignoring government production of goods and services.
a
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In the Village of Punjab, Sheryl owns a well, which is the only source of drinking water. The supply of water is perfectly inelastic at a quantity of 1,000 gallons of water per day
At a price of $2.00 per gallon, the quantity demanded per day is 1,000 gallons. The government imposes a $0.50 per gallon tax. a) After the tax is imposed, what is the price paid by the villagers? What is the price received by Sheryl? b) How much revenue does the government collect? c) What fraction of the tax does Sheryl pay? What fraction is paid by the villagers?
Which of the following is not one of the general classifications of taxes?
A. Regressive. B. Progressive. C. Proportional. D. Gradual.
What are some of the suggested remedies for the U.S. trade deficits? What remedies have been attempted? What remedies are left to try?
What will be an ideal response?
Monetary
What will be an ideal response?