________ in economics is a measure of satisfaction or happiness that comes from consuming a good or service

Which of the following statements about the underground economy is true?

A) Most transactions that occur in the underground economy are included in the calculation of GDP. B) Excluding underground economy production from measured GDP causes errors in GDP growth estimates in the long run. C) Income that is earned but not reported as income for tax purposes is included in the calculation of GDP. D) The underground economy in developing countries amounts to less than 10% of measured GDP.

Which of the following describes the concept of rational self-interest? (check all that apply)

a. Individuals look for and pursue opportunities to increase their utility. b. Individuals allocate their resources according to society's purposeful behavior. c. Individuals weigh the costs and benefits of their decisions. d. Individuals allocate their resources to maximize their satisfaction. e. Individuals look for and pursue opportunities to maximize social welfare.