Multiple Choice
GDP is
A) an imperfect measure of the standard of living.
B) the only factor that affects our standard of living.
C) a perfect measure of the value of production.
D) a perfect measure of the standard of living.
E) a measure which includes the value of all newly produced goods and services.
Correct Answer:
Verified
Correct Answer:
Verified
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Q27: The value of leisure time is<br>A)directly included
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Q30: U.S. net exports include<br>A)sales of Hollywood movies
Q32: To calculate GDP it is necessary to
Q33: In 1961, real GDP totaled $575 billion
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Q35: The U.S. economy is experiencing falling output,
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