Crime currently affects the measurement of GDP such that
a. expenditures on police protection and detention centers contribute to GDP.
b. the loss to victims due to crime is subtracted from GDP.
c. crime is completely ignored because it does not express the economic well-being indicated by GDP.
d. expenditures on police protection and detention centers are subtracted from GDP.
A
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Which of the following is TRUE?
A) Real and nominal values are not related. B) Real standards of living can increase without any positive economic growth. C) Real standards of living decrease with positive economic growth. D) Real growth rates fail to account for by price level changes.
Suppose the two countries can trade shares in the ownership of their perspective assets without any restrictions. Assume that the consumers in both countries would like to totally smooth their consumption. Describe the outcomes
What will be an ideal response?