Which of the following factors that affect our well-being does GDP fail to adequately account for?
a. changes in the quality of goods
b. externalities
c. leisure
d. all of the above
d
Economics
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Average costs _______initially due to the presence of fixed costs and then rise due to _________
a. fall; decreasing marginal costs b. fall ; increasing marginal costs c. rise; decreasing fixed costs d. rise; increasing fixed costs
Economics
When a binding price ceiling is imposed on a market to benefit buyers,
a. every buyer in the market benefits. b. every buyer and seller in the market benefits. c. every buyer who wants to buy the good will be able to do so, but only if he waits in long lines. d. some buyers will not be able to buy any amount of the good.
Economics