Which of the following would lead GDP to overstate economic welfare?
A) the existence of home-cooked meals
B) restaurant workers that under-report tip income
C) a self-employed CPA who takes a longer than normal vacation
D) electric utilities that switch to burning coal because of higher natural gas prices and thereby create more acid rain pollution
D
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Which of the following correctly identifies an argument against globalization?
A) Globalization limits the bundle of goods and services available in smaller countries. B) Globalization leads to an exploitation of developed countries. C) Globalization can lead to a loss of indigenous culture and tradition. D) Globalization works against free trade.
The Federal Reserve makes decisions regarding:
A. monetary and fiscal policy. B. fiscal policy only. C. structural policy only. D. monetary policy only.