Multiple Choice
One of the flaws of GDP is that it
A) includes only transactions that take place in formal businesses.
B) ignores transactions that do not take place in organized markets.
C) includes measures of the underground economy.
D) includes measures of changes of quality of life associated with producing output.
Correct Answer:
Verified
Correct Answer:
Verified
Q56: The "expansion" of an economy occurs after<br>A)
Q57: Business cycles are<br>A) movements in stock prices.<br>B)
Q58: Recall the Application about the link between
Q59: The amount of income that households keep
Q60: Nominal GDP is measured by calculating real
Q62: Recall the Application about the size of
Q64: GDP ignores transactions that take place in
Q65: A depression is<br>A) a severe recession.<br>B) a
Q66: The GDP equation is<br>A) Y = C
Q276: When GDP is measured in "current prices"