Which of the following statements about GDP is correct?
a. GDP measures two things at once: the total income of everyone in the economy and the total expenditure on the economy's output of goods and services.
b. Money continuously flows from households to firms and then back to households, and GDP measures this flow of money.
c. GDP is generally regarded as the best single measure of a society's economic well-being.
d. All of the above are correct.
d
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Assuming all else equal, if the labor demand curve shifts to the left and the labor supply curve remains unchanged, ________
A) equilibrium wage falls B) consumption falls C) unemployment rises D) equilibrium wage rises
Collusion is more successful in a game that will continue forever or in a game with an uncertain ending time, than in a game with a known ending time
Indicate whether the statement is true or false