Which of the following is a shortcoming of GDP?
a. GDP excludes changes in inventories.
b. GDP includes an estimate of illegal transactions.
c. GDP excludes nonmarket transactions.
d. GDP excludes business investment spending.
C
Economics
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Under the Gold standard, a country is said to be in balance of payments equilibrium when the current account balance is
A) financed entirely by international lending without reserve movements. B) financed by international lending and with reserve movements. C) equal to zero. D) financed entirely by international lending and past gold reserves. E) financed entirely by gold reserves.
Economics
Refer to the above figure. A unit tax has been placed on the good. What is the total amount of the tax?
A) 0 B) P2 - P0 C) P2 - P1 D) P1 - P0
Economics