The difference between nominal GDP and real GDP is
A) the indirect taxes used in their calculations.
B) the prices used in their calculations.
C) that nominal GDP includes the depreciation of capital and real GDP does not.
D) that nominal GDP includes net exports of goods and services and real GDP includes net imports.
E) that real GDP includes the depreciation of capital and nominal GDP does not.
B
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Why are inclusive property rights considered to be sources of wealth?
Which of the following statements is false?
A) Consumers receive more consumers' surplus when tariffs do not exist. B) Producers receive more producers' surplus when tariffs do exist. C) A tariff results in a net loss to society. D) With a tariff, the gains to the winners are less than the losses to the losers. E) none of the above