Which of the following will lead to GDP underestimating our true output?
a. Mary begins a catering business

b. James begins drawing Social Security benefits upon his retirement.
c. David accepts a position as a software specialist at Microsoft.
d. Gretchen begins an accounting and bookkeeping service in her home, accepting cash as payment, which is not reported to tax authorities.

d

Economics

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In the figure above, the equilibrium market price is $20. The producer surplus equals

A) $20. B) $1,500. C) $3,000. D) 150. E) $4,500.

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As spending on government purchases increases, income rises and money demand falls

Indicate whether the statement is true or false

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